Letterboxd Is Up for Sale: A24, Sony and The New York Times Among Suitors

Letterboxd, the film-focused social network used by about 30 million people a month, is up for sale, and the list of potential buyers now includes The New York Times and the independent studio A24. Both put in second-round bids for the platform, Deadline reported on September 24, relaying an earlier New York Times report on the sale process.

Who is bidding

The New York Times first reported interest in Letterboxd from its own parent company and from A24, as well as from Netflix, Paramount and Sony. Deadline later confirmed that The New York Times and A24 had advanced to a second round. Another suitor is in the mix: Intrinsic, a social benefit corporation launched by Elizabeth Joyce, whose campaign began with support from independent film figure Ted Hope. Versant Media, the owner of Fandango and Rotten Tomatoes, explored a deal earlier this year but took itself out of the running.

What the seller wants

Canadian private equity firm Tiny is selling its 60% stake in Letterboxd, which it acquired four years ago in a deal that valued the company at $60 million. Tiny now expects a valuation of around $300 million and has hired the boutique investment bank LionTree to run the process. Founders Matthew Buchanan and Karl von Randow, the New Zealand tech entrepreneurs who started Letterboxd in 2011, keep a minority stake and a say in where the platform eventually lands.

Why buyers are circling

At a Financial Times conference in Los Angeles, LionTree senior managing director Alex Michael called Letterboxd “a phenomenon” and a factor in the 2026 box office revival. He compared it to Fandango or Rotten Tomatoes but said it works a little differently, drawing movie fans toward other viewers' reviews and toward new titles. The service attracts its 30 million monthly users “with zero paid marketing,” he said, and its largest user group is aged 18 to 24. Apollo Global Management partner Aaron Sobel added that 20% of 18 to 34-year-olds had gone to a movie in the previous two weeks. A24 declined to comment, and The New York Times said it regularly reviews potential investments but does not comment on speculation about acquisitions or divestitures.