RE:RE:RE:Value of Torstar and how it could be unlocked@ To get an additional impression of how insanely undervalued Torstar is, just look at the enterprise value to sales- ratio. This is a strong simplification, but through that you can compare the companies without looking to Ebitda or other factors - and the sales are the base of the business : (EV of Torstar: Mcap 140 - 75 Net cash = 65 million; Sales 408 Metroland and 280 Star Media = 688 million => Torstar EV/ Sales = 0.09)
Company Country EV/Sales
Torstar CA 0.09
Postmedia CA 0.44
Sun Media acqu. by Postmedia 2014 CA 0.62
Tronc US 0.41
Gannett US 0.40
McClatchy US 0.96
Lee Enterprises US 1,21
NYTimes US 1,15
In addition, most of the value of Torstar lies outside of the traditional newspaper business (e.g. Verticalscope, other investments), which is not captured by this comparison.
Well, let's see if the "efficient market hypothesis" is right with Torstar. I bet it is not.....