$Y $Y.CA $Y.CN Canso notes

the stock is currently $11-$12. the whole thing is trading at 2x ebitda

at a 10 percent distribution yield all the retail world is owning them at 10x ebitda

if you take the digital part of the business out there's a similar business without the legacy print in the united states without the dominant market position and salesforce trading at 30x ebitda

our numbers even with very accelerated decline in print suggest that the debt will be repaid within 2-3 years.

http://lysanderfunds.com/2010/wp-content/uploads/2013/07/Conference-Call-2.mp3

http://lysanderfunds.com/2010/wp-content/uploads/2013/07/Lysander-conference-call-July-18-2013.pdf