Seeking Alpha

Martha Stewart Living Omnimedia (MSO) has an enterprise value of $113 million based on a $164 million equity market capitalization less $51 million of cash. Many investors would avoid buying the stock at any price after years of losses, weak financials and the ongoing legal battle involving Macy's (M) and J.C. Penny (JCP). I understand them, but take a contrarian view. The conclusion of the Macy's lawsuit is approaching. I don't know how it will end and it could still be a negative catalyst for the stock. However, the lawsuit has overshadowed recent restructuring initiatives that may gain more traction and attention after the courtroom drama ends. The company has a valuable asset in...

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