LiveXLive began trading on the Nasdaq Capital Market under the stock ticker “LVO” today as it completed the month-long process of changing its name. Now LiveOne, the parent of PodcastOne sports a brand that is closer to the podcast company it acquired in July 2020. It is also rebranding its other divisions to be more in line with the Podcast One brand – its subscription music business Slacker will be rebranded as SlackerOne, its live music business ReactPresents becomes ReactOne, its merchandising business Custom Personalization Solutions is rebranded as PersonalizedMerchOne, and its original content business will be branded as StudioOne.
LiveOne’s podcasting business, PodcastOne, will remain branded as PodcastOne.
The company says its new LiveOne name “captures the core of its brand's mission” to be a comprehensive platform for talent and fans alike for podcasting, music, live events, sports, e-sports, social media influence, lifestyle, merchandise, publishing and technology.
“The entertainment industry has gone through a significant shift over the past year, changing many aspects of the business and we've worked hard to ensure we are on the cutting edge of innovation, helping talent and fan engagement reach new levels,” said LiveOne CEO Robert Ellin. “With consolidation of all these acquisitions completed, this is the right time and place to utilize the "One" brand to create shareholder value similar to what was created the last 40 years by the brand.”
The company has been exploring a series of moves during the past several months. It hired investment banker J.P. Morgan as a financial adviser last December to review possible strategic transactions, including acquisitions, strategic partnerships and other opportunities to grow its business. Ellin has said they continue to “explore all options for the company” including a possible sale of some or all of its parts.
Separately, LiveXLive said last month that it plans to spin-out its existing pay-per-view business as a separate public company to be known as PPVOne. It says “a portion” of the new company’s equity will be owned by LiveXLive's stockholders with the split anticipated to take place by March 31, 2022. It will first need to be approved by its board of directors.