I think the positive story is being covered pretty well here.
The historic mistake was buying the print. They (Madison) have been paying for it for some time.
They are now however on the correct side of the business. Digital will become stupid expensive at some point. We just have to wait.  The Google, Facebook deals are private, and we will have to see the segmented numbers in time.
I see it as a value story that can become a high multiple story.