On the evening of September 27, LeTV Information Technology (Beijing) Co., Ltd. issued an announcement. On September 26, 2017, the company held the forty-eighth meeting of the third session of the Board of Directors and reviewed and approved the “Change of Company Name and Securities. In the short name, the company name will be changed to New Music Information Technology (Beijing) Co., Ltd., and the abbreviation will be changed from LeTV.com to New Music Vision.

LeTV said in the announcement that the plan for the rebranding is to further align with the company’s new strategic adjustment.

LeTV announced that the company name will be changed to "New LeTV Information Technology (Beijing) Co., Ltd.", referred to as "New LeTV."

At this point, the LeTV listing system will have a brand-new “symbol” and formally bid farewell to Jia Yueting’s time.

LeTV insiders said: "The name change has been brewing for a long time. After internal discussions, the new LeTV will be distinguished from the old LeTV. A new business system will be introduced. The follow-up shareholders may have plans to inject funds into the new LeTV, but still need attention. announcement."

According to the announcement, after the change of the name of LeTV, the company’s legal entity has not changed. Before the change of company name, the cooperation carried out under the name of “Luxue Network Information Technology (Beijing) Co., Ltd.” continues to be effective, and the signed contract will not be affected by the name change and will still be performed according to the agreed content. At the same time, all the company's rules and regulations involving the company's name, and make changes accordingly.

In the opinion of the new LeTV insider, the name change is a company must do, otherwise LeTV as the listing system is difficult to obtain investor trust in many business areas.

LeTV said that after a series of strategic adjustments in the first half of 2017, the company inherited the ecological philosophy of using user experience as the core, “platform + terminal + content + application,” focusing resources on large-screen ecological advantage areas, combined with focus on self-control and content The open content strategy, supplemented by internet financial services, creates a large-screen Internet home entertainment centered on smart TVs.

Through this strategic adjustment, the goal set by New Music Vision is to become a leader in the escalation of cultural consumption using the home Internet as a platform.

Up to now, LeTV's change of company name, securities abbreviation and other matters still need to be considered by the shareholders meeting, and need to go through the formalities of industrial and commercial change registration with the industry and commerce administrative authorities. The change of securities abbreviation is yet to be approved by the Shenzhen Stock Exchange.

If LeTV, the core company of the LeTV listing system, has officially completed its change of name, the new LeTV will erase the branding of Jia Yueting and Sun Hongbin will become the new head.

Although Sun Hongbin had once supported Jia Yueting in many public occasions, and highly evaluated it, from the perspective of a series of actions after entering the new LeTV, he was leading the new LeTV to speed up the cutting with Jia Yueting.

After Sun Hongbin entered the LeTV.com board of directors and became the chairman of the company, he twice adjusted LeTV's senior staff on a large scale, nearly changed the blood of LeTV.com's key positions, and then accelerated the company's internal organizational changes. New company strategy, new organization, new team, new culture.

Now, by rebranding LeTV as the new LeTV, Sun Hongbin formally cuts LeTV and Jia Yueting, and LeTV's page about Jia Yueting is overturned.

People in the industry believe that when Sun Hongbin’s ambitions are gradually revealed, his relationship with Jia Yueting has become increasingly tense.

After Sun Hongbin entered the company, LeTV declared that he was a new music player more than once, and cleared the relationship with Jia Yueting. Recently, LeTV posted an announcement and asked company founder Jia Yueting to continue to fulfill its loan commitments. The company’s board of directors also sent a letter to Jia Yueting. The industry generally believes that after this incident, Sun Hongbin and Jia Yueting formally stand on the opposite side.

Now, after the company's shareholder meeting approves the review, LeTV will also complete the rebranding. Sun Hongbin brings new music to accelerate and Jia Yueting cuts, and the relationship between the two may never return to the original.

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