Yes. Those conglomerates also do TV. But Hollywood makes movies, and not talk shows. Many of those conglomerates also have internet access businesses. But Hollywood doesn’t lay fibre.
"Hollywood" is a metonym/catch-all term for the media industry just like how "Silicon Valley" is for the tech industry and "Wall Street" is for finance.
"Hollywood" is a metonym/catch-all term for the media industry just like how "Silicon Valley" is for the tech industry and "Wall Street" is for finance.