The management of the public services of radio and television broadcasting. The RTVE Group is made up by the State Agency RTVE, Televisión Española, S. A. and Radio Nacional de España, S. A.
INFORMATION ABOUT CORPORACIÓN RTVE
Corporación RTVE is the largest Spanish audiovisual group. Its goal is to provide and guarantee the state-owned radio and television services, a function which it carries out through Televisión Española (TVE) and Radio Nacional de España (RNE).
Corporación de Radio y Televisión Española, S.A. has its origin in Act 17/2006, on June 5th for the state-owned radio and television. It is a state-owned enterprise, incorporated as a public limited company with a social capital which is wholly owned by the State, which carries out its functions with functional independence from the Government and the Administration.
Corporación RTVE began operating on January 1st, 2007. On the same day, Ente Público RTVE, from which it comes, and the companies TVE, S.A. and RNE, S.A., which up to that date performed the same radio and television public service function, entered into a situation of winding-up/liquidation in accordance with that stipulated in temporary provision Fifth of Act 17/2006 of state-owned radio and television.
According to that stipulated by the above Act, the administration and management of Corporación RTVE corresponds to a Board of Directors, which carries out its executive functions through its Chairperson, who also chairs the Corporación. In accordance with Royal Law-Decree 15/2012, on April 20th, which amends Act 17/2006, the Board of Directors must be made up by 9 Members appointed by Parliament; 5 by the Congress of Deputies and 4 by the Senate. The appointment requires a two third majority of the votes of the corresponding Chamber, or an absolute majority in the case that, once 24 hours have elapsed since the first ballot, the two thirds majority had not been achieved.
The Congress of Deputies is in charge of appointing, from among the 9 Members elected, the Chairperson of Corporación RTVE and of the Board through the same system which was used for appointing the Members of the Board.
The News Boards (Consejos de Informativos), set up in Act 17/2006, are the internal bodies for the participation of the Corporación’s news professionals for safeguarding its independence and the objectivity and fairness of the news contents broadcasted by TVE and by RNE. In order to regulate the organization and working of these Consejos Informativos, Corporación RTVE has set up a News Statute which was approved by the Board of Directors on May 14th, 2008.
Act 8/2009, dated on August 28th, for the financing of Corporación RTVE, stipulated a new financing system, ending the mixed-financing system included in Act 17/2006 (income from advertisements and budgetary contribution for paying the net cost of the public services).
Basically, this financing comes from public funds:
It is also envisaged that the financing can take place with other public and private income, basically that having its origin in Corporación RTVE’s estate and the commercial use of its products.
SEPI and Corporación RTVE:
With the purpose that Corporación RTVE could start operating, Ente Público RTVE transferred its assets and liabilities, and those of its companies which provided the public service, to Corporación RTVE, which resulted in a capital increase made by Corporación itself for the amount of € 1,510 M, corresponding to 302 Million shares, and which was completely subscribed by Ente RTVE. As a result of this capital increase, the Ente became the majority shareholder of Corporación, with 99.9% of the social capital. With the start of the liquidation proceedings of Ente Público RTVE began the divestment and liquidation of the assets, rights and liabilities which made up its estate.
The Council of Ministers which took place on March 7th, 2007 resolved to authorize SEPI to purchase all the shares of Corporación al Ente Público RTVE in liquidation. The purchase of the shares has been taking place through a number of transactions, on the basis of the Ente’s financing requirements and SEPI’s available resources. This purchase is taking place according to the net book value with which that equity is recorded in the accounts of Ente in liquidation at the time of each divestment.
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