In September 2015, FAB formed Libsyn in Nevada to act as the holding company for the Webmayhem business and to be the entity whose shares would be distributed to FAB stockholders in the Spin-Off. Libsyn does not operate any of its entities as a variable interest entity. Liberated Syndication Inc. operates its podcast hosting operations through its sole subsidiary, Webmayhem Inc., which it wholly owns.
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