Tiny Ltd. jumps 19% on report of Letterboxd sale talks

M&A · Partnership

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Summary · why it matters

Tiny Ltd. shares surged 19% following a report that its majority-owned unit Letterboxd has been exploring a sale in recent months. Letterboxd's owners have held early discussions with several potential buyers, including Netflix, Sony Pictures Entertainment, Paramount Skydance, and private-equity firm TPG, according to Variety citing a Puck report. Reddit co-creator Alexis Ohanian, through his venture capital firm Seven Seven Six, is also evaluating a possible purchase. Tiny acquired a 60% stake in Letterboxd for $50 million to $60 million in 2023, and investment bank LionTree has been floating a $250 million valuation for the unit. Letterboxd, Netflix, Paramount, Sony Pictures, Tiny, and TPG have either declined to comment or did not respond to requests for comment.