AEW had to work around intellectual property when they opened their doors. This included making sure that they were allowed to use names that appeared on Dynamite. Pentagon Jr was able to continue using his name, but that is no longer the case.
It was noted in the Wrestling Observer Newsletter that Pentagon Jr will be Penta El Zero M from now on. He owns that name, and AEW will use it from now on.
AEW was permitted to use Pentagon Jr’s name because they worked with AAA. The Mexican promotion owns the name Pentagon Jr. On a related note, AAA owns “Fenix” as well. This is why he’s gone by Rey Fenix since debuting.
Now that AEW is merchandising the Lucha Bros, they needed to have a name that they owned, or had explicit permission to use in such a way.
Penta El Zero M will continue to appear on AEW programming under that new name. He’s gone by that name for a while, but not in AEW. It wasn’t noted who owns the name “Lucha Bros.”
It also works out as Masked Republic is getting a line of merchandise throughout all Hot Topic stores with Penta El Zero M and Rey Fenix featured in the line. Those shirts are already available through Hot Topic’s online store.