The New York Times Company is in “exclusive negotiations” to acquire Letterboxd, the movie-loving social network, for about $330 million. The New York Times reports. Recent rumors have suggested The Times Company, Sony Pictures Entertainment, and A24 are among those interested in purchasing Letterboxd.
Negotiations with the Times Company included the possibility of Letterboxd’s co-founders remaining in charge while reporting to a Times Company executive. Letterboxd would likely remain standalone for the “foreseeable future,” according to the New York Times. The company would also integrate advertising technology from the Times Company.
New York Times Spokesman Charlie Stadtlander declined to comment. Letterboxd and current parent company Tiny Ltd. did not immediately respond to a request for comment from The edge.
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