The popular film-review social network, Letterboxd, has reportedly been exploring a potential sale in recent months. Founded in 2011, Letterboxd is currently majority-owned by Canadian holding company Tiny, which acquired a 60% stake in 2023 at a valuation of between $50 million and $60 million. Co-founders Matthew Buchanan and Karl von Randow retain the remaining 40%.

Letterboxd’s owners have held preliminary discussions with several possible buyers, including Netflix. Sony Pictures Entertainment, Paramount Skydance, key Paramount backer RedBird Capital Partners and private-equity firm TPG have also reportedly expressed interest.

Alexis Ohanian, the Reddit co-founder and founder of venture-capital firm Seven Seven Six, is also said to be considering a bid.

Ownership by a major studio or streaming service could raise concerns over Letterboxd’s independence, particularly around whether a new corporate owner might favour its own films. Similar criticism has previously surrounded Rotten Tomatoes, which was owned by NBCUniversal for several years.

Rotten Tomatoes and its parent company Fandango are now part of Versant Media, which was spun off from Comcast and NBCUniversal earlier this year. Semafor reported in April that Versant had also held discussions about acquiring Letterboxd.

Letterboxd has grown rapidly in recent years, surpassing 30 million members worldwide as of June 2026 after adding 10 million users during the previous year. The Auckland-based platform experienced a significant rise in popularity during the COVID-19 pandemic and recently expanded into online film rentals.

Investment and merchant bank LionTree is reportedly handling the sales process and has been presenting Letterboxd to potential buyers at a valuation of around $250 million.

Letterboxd declined to comment on the acquisition speculation.

TRENDING NEWS