Netflix, Sony & More In Talks For Letterboxd?
The film-review platform has more than 30 million members, and LionTree is seeking about a $250 million valuation, according to reports.
- Auckland, New Zealand-based film social network Letterboxd is exploring a potential sale, with Netflix, Sony Pictures Entertainment, and Paramount Skydance reportedly expressing interest in acquiring the platform.
- The platform is majority-owned by Canadian holding company Tiny, which acquired a 60% stake in 2023 at a $50 million-$60 million valuation; co-founders Matthew Buchanan and Karl von Randow retain the remaining 40% share.
- Investment bank LionTree is reportedly seeking a $250 million valuation for the platform, which has surpassed 30 million registered members after adding roughly 10 million users over the past year.
- Industry observers warn that acquisition by a major studio could create conflicts of interest, citing the problematic ownership of Rotten Tomatoes by NBCUniversal as precedent for such concerns.
- Other potential buyers include TPG, RedBird Capital Partners, and Seven Seven Six founder Alexis Ohanian, though no public offers have been made and all companies involved have declined to comment.
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Puck's Matthew Belloni Slams Variety for 'Gross Overstatement' of His Netflix Letterboxd Story
Puck’s Matthew Belloni has attacked recent reporting by Variety. For years, Variety has positioned itself as one of Hollywood’s most trusted trade publications. But when even the journalist whose reporting you’re citing publicly accuses you of grossly overstating his story, it’s worth asking whether speed and sensationalism have overtaken accuracy. That’s exactly what happened this week after Puck’s Matthew Belloni publicly criticized Variety‘s …
The world of film reviews could soon be shaken, as reports of Netflix and Sony's interest in the social network Letterboxd have been released.For those who don't know it, the social network Letterboxd specializes in sharing film reviews from all kinds of studios, such as Netflix and Sony.Netflix and Sony have started conversations to buy LetterboxdAccording to The Wrap, on Friday, July 10 it was reported that Netflix and Sony are in conversation…
Netflix and Sony Pictures are among the companies that have preliminary conversations to acquire Letterboxd, the digital platform specialized in film reviews and ratings, as reported this Friday by the specialized media The Wrap.
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