TechNew York Times40m ago
NYT has entered exclusive negotiations
Sources: NYT has entered exclusive negotiations to acquire Letterboxd for roughly $330M; A24 dropped out of negotiations after price expectations rose
TL;DRNew York Times is buying Letterboxd, the movie review site, for around $330 million.
Why it matters: NYT expands beyond news into entertainment; Letterboxd's 8M+ users become part of a media giant's ecosystem.
The roughly $330 million deal for the cinephile community site would be part of an effort to add new products and services to the company's portfolio.
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