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The New York Times Building in Manhattan, showing the paper's masthead above the entrance. The Times Company is one of two second-round bidders for Letterboxd.

Letterboxd's $300m price is 2.6 times its listed owner's value

Tiny Ltd closed Friday at a market capitalisation of US$117m. Its 60% stake in Letterboxd is being marketed at $300m, which works out at $9.77 a member, against the $458 a head the New York Times Company paid for The Athletic.

Nell Fairweather26 September 20265 min