Television stations are just like McDonalds and Hardees and many other businesses. they are franchised. this means these businesses are are not directly owned by McDonalds or Hardees, but have independent owners and use the logos and food products offered by the two. o and o are directly owned by McDonalds and Hardees. just an example.
Franshised businesses are owned and operated by private individuals with their own money as an investment.