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 television stations in the United States Stockton, California from the Sinclair Broadcast Group in May 2005. On February 7, 2007, CBS announced the sale of its owned-and-operated stations in Salt Lake City (KUTV and its satellite in St. George, Utah, KUSG) and Austin (KEYE-TV) to Four Points Media Group, a holding company owned by Cerberus Capital Management as part of a group deal which also included two CW owned-and-operated stations (WTVX in West Palm Beach and WLWC in Providence), one low-power MyNetworkTV affiliate and one low-power Azteca América affiliate (both located in West Palm Beach). Six days later, CBS announced that it was swapping its O&O