A production company is the studio and/or corporate entity responsible for the creation of a television program. Many production companies are subsidiaries of larger companies and may even include major networks.
The company is wholly responsible for the production of a television series and handles everything involved in making the show possible. It sets up the studios, location shoots, management staff and most importantly - financing. The executives in charge of a production company are also investers in the programs that the company produces and are usually credited as executive producers on the show. Executive producers are the movers and shakers of a project, but rarely take a hands-on-approach into the day-to-day operations of a program.