Cinderella has distributed the shareholdings in 1010 Printing to its respective shareholders. So you’re only getting the media advertising business; inflight and recruitment magazine.
For the purpose of answering your question, let’s assume Cinderella still owns 1010 Print. If both the parent’s business and the subsidiary business (1010 Print) are undervalued, it’s perfectly fine to own 1010 Print via Cinderella, however, bearing in mind there will be additional layer. Simply said, if 1010 Print distributes dividends, the parent company receives the money but not obligated to pay them right away to her shareholders. It’s entirely up to Cinderella’s board to dictate the payout rate after taking into account working capital requirement.