That was my thinking as well and unfortunately the article doesn't go into that direction. For example: Do we know how many creators they have. Do they all have the same contracts and rights or are some of them just (affiliated) "creators".

To put this to an extreme: If only the six owners were creators they could claim 100% goes to the creators without lying.

> For most respects and purposes, Standard Broadcast is the creators on Nebula

Then why shell them into a separate vehicle?

The purpose is to create two tiers of creators. That's fine. Some took a risk. Others didn't. But it's dishonest to then claim one is being transparent when the only reason for this structure, apart from incompetence or convenience, is obfuscation.

It's kind of a historical happenstance. Standard was created first as a company offering support services for creators. Nebula was one of Standard's offerings which grew to be the main thing.