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I was simplifying it a bit. The origin of Krush is messy, but originally it was meant to be an one off partnership between FEG and All Japan Kickboxing to experiment with the lighter weights.Krush wasn't a spinoff org. It was a complete different org owned by Good Loser. K-1 was owned by FEG.
When All Japan failed due to its own bag of insanity, Good Loser was created with FEG sponsorship to host Krush as a recurring event.
We still don't know whats the deal with the video library. Apparently GLORY bought that out from the TV networks, but EMCOM disputed it. But judging by the fact that UFC Fight Pass is carrying Glory and orld K-1 WGP fights, EMCOM hasn't really done shit about that either.
I would bet that the K-1 WGP rights held by Fuji are in Glory hands. Global can say whatever it wants, but neither K-1 Japan nor Fuji have been comfortable using vid footage of those events. I imagine TBS hasn't parted with the MAX footage since those aren't up on Fight Pass.