Who we are

Torrespaña

A public and independent company

The Spanish Radiotelevision Corporation (RTVE) is a state-owned commercial company with special autonomy entrusted with the mission of offering and guaranteeing the state-owned public radio and television service. It is set up as a public limited company and its capital stock is wholly owned by the State. RTVE is by law independent of any government, party or company. It is only accountable to Parliament. It is managed by a Board of Directors made up of ten members elected by Parliament.

The administration and governance of the RTVE Corporation is the responsibility of a Board of Directors, which carries out its executive functions through its President, who also presides over the Corporation. In accordance with Law 5/2017, of 29 September, which amends Law 17/2006, the Board is to be made up of ten members elected by Parliament, six by the Congress of Deputies and four by the Senate. The election requires a two-thirds majority of the corresponding Chamber, or an absolute majority plus the support of half the groups in Parliament, if the required two-thirds are not reached in the first ballot.

The RTVE Corporation started its activities on 1 January 2007. That same day, the Public Entity RTVE, from which it derives, and the companies TVE, S.A. and RNE, S.A., which up to that moment carried out the same function of public radio and television service, entered into a state of dissolution-liquidation, in accordance with the fifth transitory provision of Law 17/2006 on state-owned radio and television.

In order to enable the RTVE Corporation to start its activity, the Public Entity RTVE contributed its assets and liabilities and those of its public service providers to the Corporation, which led to a capital increase of 1.510 billion euros, corresponding to 302 million shares, which was fully subscribed by RTVE. As a result of this increase, RTVE became the majority shareholder of the Corporation with 99.9% of the capital stock. With the entry into liquidation of the Public Entity RTVE, the phase of disposal and extinction of the assets, rights and obligations which made up its equity began.

The Council of Ministers of 9 March 2007 authorised SEPI to buy all the shares of the Corporation from the Public Entity RTVE in liquidation.