Letterboxd Gets New Suitor in Gigi Pritzker-Led Investor Group | Exclusive

An investor consortium led by billionaire philanthropist and CEO of Madison Wells, Gigi Pritzker, has shown interest in acquiring the social media platform for cinephiles, Letterboxd. The New York Times is viewed as the frontrunner due to its neutral custodian role, according to a source familiar with the sales process. Letterboxd's user base has grown to nearly 35 million members, with its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) projected to exceed $20 million by 2027.

The platform's unique and loyal user base, as well as its ability to foster a community for film enthusiasts, makes it an appealing acquisition target. Studios are keen to explore the company as they seek to tap into the critical discourse and user-generated data that thrives on Letterboxd. While a deal could be in the works, it remains uncertain when a closure could be achieved.