Netflix, Sony and Paramount in talks to buy Letterboxd

Netflix, Sony Pictures, Paramount Skydance, private equity firm TPG and Reddit co-founder Alexis Ohanian are all reportedly in early talks to acquire a controlling stake in Letterboxd.

Letterboxd's owner is shopping its majority holding. Holding company Tiny has been in talks with potential buyers for its 60 percent stake in the film-focused social network, according to multiple reports citing a Puck story. Investment bank Liontree is handling the sale process, which values the company at $250 million. Tiny acquired that 60 percent stake in 2023 at a reported valuation of $50 million, with co-founders Matthew Buchanan and Karl von Randow retaining the remaining 40 percent.

The talks remain unconfirmed. Representatives for both Tiny and TPG declined to comment.

Letterboxd has grown rapidly since the pandemic. The platform had 6.5 million members as of August 2022. That number has since climbed above 30 million as of June 2026, with 10 million new users joining in the past year alone. The service allows film fans to log, rate and discuss movies, a feature set that has made it a key destination for cinephiles.

Potential studio buyers raise conflict-of-interest questions. A takeover by Netflix, Sony Pictures or Paramount Skydance would place a major film studio or distributor in control of a prominent platform where users critique their output. Rotten Tomatoes faced similar scrutiny when owned by NBCUniversal. Warner Bros. Discovery, which may soon merge with Paramount, still holds a minority stake in Rotten Tomatoes after Comcast spun out the site and its cable networks earlier this year.

Other parties have shown prior interest. A Semafor report from April indicated that Versant, owner of Fandango and Rotten Tomatoes, was also interested in Letterboxd. Ohanian responded to the latest reports with the comment “Man I can’t sneeze without someone taking about it lol.” The process remains at an early stage with no deal yet in sight.