Several major entertainment companies are reportedly pursuing a majority stake in the film-focused social network Letterboxd.
Netflix, Sony Pictures, Paramount, private equity firm TPG and Reddit co-founder Alexis Ohanian are among the parties in discussions to acquire the platform, according to recent reports.
Holding company Tiny, which purchased a 60 percent stake in Letterboxd in 2023 for a reported $50 million valuation, is seeking buyers for its share. The co-founders Matthew Buchanan and Karl von Randow retain the remaining ownership. Investment bank LionTree is managing the sale process, with a current valuation of around $250 million.
Letterboxd has grown rapidly, reaching 30 million members after adding 10 million users in the past year alone. A potential acquisition by a major studio raises questions about conflicts of interest for the platform, which serves as a key space for film discussions.