Summary

After several months of business talks and speculation, Letterboxd is about to have new owners. The New York Times is closing in on deal to acquire the film-logging social media platform , which values the company at $330 million. It’s an eye-popping increase from 2023, when the Canadian holding company Tiny bought a majority stake at a $50 million valuation. Far beyond the film industry, there is a dismal track record and daunting uncertainty when it comes to companies’ ability to maintain their identities after being acquired.

AI summaries can be wrong sometimes—always verify important details using the source article.