The LM&M's track from Lebanon to Hageman Junction is currently owned by the city of Lebanon and Genesee & Wyoming (current owner of the Indiana and Ohio Railway) owns the remaining track. While the I&O continued to operate freight over the entire line, with the LM&M having trackage rights to operate passenger trains, in 2021 the I&O officially ended their status as designated operator of the Lebanon Branch, being replaced by CRC/LM&M.
The LM&M's track from Lebanon to Hageman Junction is currently owned by the city of Lebanon and Genesee & Wyoming (current owner of the Indiana and Ohio Railway) retains ownership of the remaining track. Despite the I&O continuing freight operations over the entire line, with access rights for passenger trains, in 2021 the I&O officially ended its role as designated operator of the Lebanon Branch, replaced by CRC/LM&M.