 Radio would be a monopoly funded by a licence fee and organized as a limited company, AB Radiotjänst ("Radio Service Ltd."), owned by the radio industry and the press.The transmitters were owned by the state through Telegrafverket and the press held a monopoly on newscasts through Tidningarnas Telegrambyrå.AB Radiotjänst was one of 23 founding broadcasting organizations of the European Broadcasting Union in 1950.