[London Lite]

I think it's what we call "warehousing" in the UK where a shadow company owns the licence, but the parent company continues to operate the station.

This example is more common in radio over here where Communicorp UK purchased a group of stations from Global to meet competition concerns, but those stations (except one in Manchester) continue to operate as franchises of Global brands with programming, IT and admin support from Global as part of the agreement. In most cases, Communicorp stations have studios and offices in Global premises. Communicorp earn local ad revenue from the agreement, which is what the main concerns are rather than who operates the station, along with paying for talent and local admin.