So, the cut dividend at current price is 4.4%, about what it was with the old dividend at the higher price, they want to buy back about 7% of shares at current price (but let's assume price *rises*), as cash flow allows, I guess. If Fortress gets some cash out of it, I guess that's OK. I think the question is still about the revenue growth forward, cash flow, and profitability.
Maybe this is good-ish news, as if cash flow does not improve, it's easier for the board to suspend the buy-back, then it would be to (further) reduce the dividend.
There's a fairly strong chance this stock will reinflate to its previous multiple within a couple of years, that's a pretty fair long-term investment, I think.