Yes, a registry just manages TLDs. The registry Verisign, for example, manages .com, but it's not the owner.

In this case, Tuvalu owns .tv and they contracted with GoDaddy Registry to manage it [0].

It can be confusing because the lines are blurring. For example, Google has considerable vertical integration: they operate a registry, a registrar, and they own a few TLDs too.

[0] https://registry.godaddy/blog/dottv-contract-signing-release

Oh, I see, it was a deal with the Tuvalu government. For some reason I misread it like they bypassed the country's authority somehow.