Letterboxd is reportedly exploring a sale, with Netflix, Sony Pictures, Paramount Skydance and several investment firms said to be interested in acquiring the popular movie social network.
However, the streaming giant is still offering the same $27.75 the companies had agreed on for WBD’s movie studio and streaming assets, and the deal continues to value the company at $82.7 billion.
The studio’s board unanimously rejected Paramount Skydance’s revised $108.4 billion bid, calling the proposal a “leveraged buyout” that would saddle the company with $87 billion in debt.
It’s the latest attempt by one major Hollywood superpower to acquire another.