It’s like how Peacock paid NBCUniversal $500M for The Office, even though Peacock is owned by NBCUniversal. Or how HBO Max paid Warner Bros $425M for Friends, even though HBO Max is owned by Warner Bros.
If a studio owns a streaming service, how exactly is that streaming service paying that studio for the content? Is the studio just paying itself? How exactly does that work and why do they have to do it?