My DCF model indicates that Lee Enterprises is worth more than $24

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With more than 101 years of business history in the United States, Lee Enterprises is now transforming its organization into a digital business model. If we take into account Lee's potential M&A synergies as well as the factor that digital revenue is increasing at a double-digit rate, the company's current valuation is cheap. I don't appreciate the poison pill adopted by Lee very recently. I also dislike the offer of $24 made by Alden Global. According to my DCF model, in the best-case scenario, the company could be worth $87. I am a buyer of shares.

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