Here’s a question that may clarify: who runs the ad auction? If post-split that’s company B, I’d argue that is a genuinely new structure with some different pr

Here’s a question that may clarify: who runs the ad auction? If post-split that’s company B, I’d argue that is a genuinely new structure with some different properties. Company A would still have an ads team to manage the integration, but they would explicitly outsource ad selection to (potentially) multiple partner companies.