We do also create new entries if a company changes its name. Your method would be correct if Nippon Columbia continued to exist alongside Columbia Music Entertainment (like a parent company). However it changed names twice -- first to CME then back to NC. So during the CME phase there was no NC.
In fact NC, CME and the new NC are all the same entity, just with different names. We just don't have an alias feature for organizations yet.
I know where you're coming from though -- splitting up all the organization pages like that can make things a bit fragmented. I wonder if there's a demand for a "parent" view so all the different name changes, merges and acquisitions are combined into one single page.
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