In 2007, Globo moved its analog operations to high-definition television production for digital broadcasting. Globo is composed of 5 owned-and-operated television stations and 119 affiliates throughout Brazil plus its own international networks, Globo TV International and TV Globo Portugal. The network's main production studios are located at a complex dubbed Estúdios Globo, located in Jacarepaguá, in the same city. Globo is headquartered in the Jardim Botânico neighborhood of Rio de Janeiro, where its news division is based. All of this makes Globo renowned as one of the most important television networks in the world and Grupo Globo one of the largest media groups. Globo is the largest commercial TV network in Latin America and the second-largest commercial TV network in the world behind the American Broadcasting Company and the largest producer of telenovelas. It is owned by media conglomerate Grupo Globo, being by far the largest of its holdings. TV Globo ( Portuguese:, "Globe TV"), formerly known as Rede Globo, is a Brazilian free-to-air television network, launched by media proprietor Roberto Marinho on 26 April 1965.
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