News last week of a new smart TV operating system from LG Ads seemed at odds with the Korean vendor’s existing offering, the successful WebOS smart TV OS. However, it now emerges that LG Ads is not a full subsidiary of LG, but rather an independent company in which LG is a majority shareholder. LG Ads’ CMO, Allen Bush, explained that the company was founded in 2013 under the name Alphonso, to provide automatic content recognition (ACR) to smart TV OEMs so that they could collect TV audience data. This caught the eye of LG, which became a majority stakeholder in Alphonso at the start of this year – the smaller company’s main effort now is selling LG’s streaming inventory…