Conglomerate (company) music industry, television and film production and distribution, financial services, and telecommunications. In China, many of the country's conglomerates are state-owned enterprises, but there is a substantial number of private conglomerates. Notable conglomerates include BYD, CIMC, China Merchants Bank, Hasee, Huawei, JXD, Ping An Insurance, TCL Corporation, Tencent, TP-Link, ZTE, Legend Holdings, Dalian Wanda Group, China Poly Group, Beijing Enterprises, and Fosun International. Fosun is currently China's largest civilian-run conglomerate by revenue. In South Korea, the "chaebol" are a type of conglomerate owned and operated by a family. A chaebol is also inheritable, as most of current presidents of chaebols
Owned-and-operated station Radio Disney. ESPN has only a few owned-and-operated stations in mostly major markets, but almost all of Radio Disney's outlets were owned by Disney itself prior to its transition to a mainly digitally distributed service in 2014 (leaving Los Angeles flagship KDIS as the network's only remaining O&O until 2017, when it became affiliated with spin-off network "Radio Disney Country"). Most religious radio networks, such as Salem Communications, Moody Radio, the Bible Broadcasting Network, and Air 1/K-Love, own and operate all of their stations. The Public Broadcasting Service (PBS) does not own or operate any of its stations by way