Letterboxd, the film-review and movie-tracking social platform, is reported to be exploring a sale. Multiple outlets say Netflix is among the companies that have expressed interest in buying the service, though the talks are described as preliminary and no deal terms are disclosed. Variety also reports that Letterboxd has been shopping itself to potential buyers in recent months and that the company is majority-owned by Canadian holding company Tiny. Polygon frames the possible acquisition as part of broader interest from major Hollywood investors in acquiring established social platforms tied to entertainment.
The latest reporting cites a Puck report by Matt Belloni outlining several prospective bidders, including Netflix and Sony Pictures, among others. In addition to functioning as a social network for film discussion, Letterboxd has recently expanded its offerings, including launching an online video-rental service. While details about valuation, timing, or the identity of any other interested parties are not specified in these summaries, the reports agree that Letterboxd is actively seeking acquisition discussions with multiple major media players.
