LiveOne restarts $12 million stock buyback program

LiveOne (NASDAQ: LVO) announced it has restarted its previously authorized $12 million stock repurchase program, according to a company statement.

The music and entertainment technology platform reported it has already repurchased more than 5 million shares under the program, leaving $5.9 million remaining for additional buybacks.

The company also disclosed that senior management and directors, led by Chairman and CEO Robert Ellin, plan to purchase up to 5 million shares.

"We believe our stock remains significantly undervalued, and this commitment reflects our strong confidence in LiveOne's growth trajectory and long-term value," Ellin stated in the announcement.

LiveOne operates as a creator-focused music, entertainment, and technology platform that delivers content through memberships and live and virtual events. The company's subsidiaries include Slacker, PodcastOne (NASDAQ: PODC), PPVOne, and several other entertainment and music-related businesses.

The information is based on a press release statement from the company.

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