News last week of a new smart TV operating system from LG Ads confused us somewhat. LG already runs a successful smart TV OS in WebOS in an increasingly crowded market, so why is the company throwing a new competitor out into the field? We were soon to discover that things were not as they seemed. Contrary to what the name may have you believe, LG Ads is not a subsidiary of LG, but rather an independent company of which LG is a majority shareholder. Speaking to Faultline this week, LG Ads’ CMO, Allen Bush, explained how the new company came about. It started out with the name Alphonso, which LG Ads was previously known as, founded in 2013 as…