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Name Market Capitalization ($ Million) Enterprise Value ($ Million) P/E Price/Book Enterprise Value/Sales Enterprise Value/EBITDA Gannet 6,350 10,163 7.36 0.73 1.40 5.04 New York Times

Name Market Capitalization ($ Million) Enterprise Value ($ Million) P/E Price/Book Enterprise Value/Sales Enterprise Value/EBITDA
Gannet 6,350 10,163 7.36 0.73 1.40 5.04
New York Times 2,423 3,472 18.09 2.64 1.10 7.21
McClatchy 675 3,061 9.76 1.68 1.40 5.64
Media General 326 1,192 14.89 0.39 1.31 7.65
Lee Enterprises 267 1,724 6.55 0.82 1.57 6.65
Average 11.33 1.25 1.35 6.44
Maximum +60% +112% +16% +22%
Minimum -40% -69% -18% -19%

The table above shows the Market Capitalization, Enterprise Value and multiples for a number of firms in the newspaper publishing industry. Another newspaper publishing firm (not shown) had sales of $35 million, EBITDA of $14 million, excess cash of $5 million, $12 million of debt and 1.2 million shares outstanding. If the average Enterprise Value to Sales for comparable business is used, what is the best estimate of the firm's share price?

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