Tangible book value update I've computed a tangible book value of $4.86/share which excludes audio visual content rights and goodwill/intangibles from the balance sheet. If we include these intangibles, as they do have value, then book value increases to $8.35/share.
At the current price of $1.75, this equates to 36% of tangible book value and 20.9% of total book value. At this price, the stock price could triple and still be cheap!
The risk/reward is pretty attractive here but it requires a lot of patience.