NY Times, A24 and Sony Competing to Buy Film App Letterboxd

Letterboxd, the film-loving social network that allows its users to record the movies they watch and rate each one, is exploring a sale. This, in itself, was already reported by Omelete. Now, however, a new report from the New York Times has listed the current potential buyers.

According to the American newspaper, the indie studio A24, responsible for films like The Drama and Marty Supreme, is one of the interested parties, as is Sony Pictures, which owns the film rights to Spider-Man, and, interestingly, the New York Times itself.

The Times , in addition to being the publication, has several apps, games, and other media portals, such as the sports journalism website The Athletic and the word guessing game Wordle.

According to the report, Letterboxd's current valuation is $300 million. In the last report, the app was worth $250 million.

In the event of an acquisition by A24 and Sony, the purchase would create a curious situation, since users can negatively rate films from these studios and, in turn, receive recommendations based on what other app users are watching.