Rede Globo, or simply Globo, is a Brazilian television network, launched by media mogul Roberto Marinho on April 26, 1965. It is owned by media conglomerate Organizações Globo, being by far the largest of its holdings. Globo is the second-largest commercial TV network in annual revenue worldwide just behind the ABC Television Network and the largest producer of telenovelas. Globo is headquartered in the Jardim Botânico neighborhood of Rio de Janeiro, where its news division is based. The network's main production studios are located at a complex dubbed Projac, located in Jacarepaguá, Barra da Tijuca. It is composed of 122 owned and affiliate television stations throughout Brazil plus its own international networks, Globo TV International and TV Globo Portugal. In 2007, Globo moved its analog operations to high-definition television production for digital broadcasting.