The New York Times reportedly in talks to buy Letterboxd for $330 million

The New York Times is reportedly in talks to acquire Letterboxd, a movie-focused social platform, for $330 million. Letterboxd has grown from 3 million users in 2021 to 28 million in 2022, with over half of its users under 35. The platform offers free access, but users can pay for advanced features. Letterboxd's projected earnings for 2022 are $15 million, which is 4.5% of the proposed acquisition price. Film studios A24 and Sony were previously interested in acquiring the platform, but A24 was priced out. The New York Times has declined to comment on the acquisition.