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 generally issued on a local (rather than national) basis, and there is (or was) some sort of regulatory mechanism in place to prevent any company (including a broadcasting network) from owning stations in every market in the country. In other parts of the world, many television networks were given national broadcasting licenses at launch; as such, they have traditionally been mostly (or entirely) composed of owned-and-operated stations, rendering a separate notion for such a concept redundant. In the broadcasting industry, the term "owned-and-operated station" refers exclusively to stations that are owned by television and radio networks. On the other hand,