This is flat out incorrect. You’ve failed to understand how conglomerates work. Hybe is a corporate entity with several subsidiaries that conduct smaller scale business. This is the same kind of entity that every western conglomerate, eg. Disney, Google, Meta, Amazon is. Or in Korea you can compare it to entities like Samsung or Lotte. Let’s take Disney as an example in the movies/Tv business alone they own and control several studios, an example of one would be Marvel Studios. 1/2