-8%

est. 2Y upside i

Media & CommsSeries D+

Rank

#3109

Sector

Digital Media / Sports Journalism / Publishing

Est. Liquidity

~5Y

Data Quality

Data: Low

Due to missing revenue data and stale valuation, analysis confidence is low.

Last updated: July 3, 2026

Bull (15%)+10%

The Athletic benefits from continued growth within NYT bundle and potential expansion into new sports markets; valuation could increase to $605M.

Base (55%)0%

Valuation remains stable at $550M as growth matches market expectations and competition moderates.

Bear (30%)-30%

Generative AI and ESPN+ erode subscriber base, leading to valuation decline to $385M.

Est. time to liquidity~5.0 years

Preference Stack Risk

high

Funding Intensity

25%

Total preferred stock of $139.5M represents 25.4% of current valuation, posing significant downside risk.

Dilution Risk

low

No additional funding rounds anticipated in next 2 years.

Secondary Liquidity

none

No secondary trades reported.

Editorial — 7 roles

Engineering — 3 roles

Creative Development — 2 roles

Data — 2 roles

Product — 2 roles

Marketing — 1 role

View all 22 open roles at The Athletic →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on The Athletic's data — designed to show you've done your homework.

  • 1

    “How does The Athletic's subscription growth trajectory align with NYT's overall strategy?”

  • 2

    “What is the path to profitability without NYT's resources?”

  • 3

    “How does equity vest upon a change of control, and how liquid are shares?”

Community

Valuation Sentiment

Our model estimates -8% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.