Martha Stewart Living Omnimedia (NYSE: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 (NYSE:M) and J.C. Penny (NYSE: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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