EFE

EFE, a leading Spanish news agency established in 1939, is one of the world’s largest, employing over 3,000 journalists and ranking fourth globally after AP, Reuters, and AFP.

Media assets

News agency: EFE

State Media Matrix Typology

Independent State-Funded and State-Managed (ISFM)

Ownership and governance

EFE is a state-owned company, with its shares fully controlled by the Sociedad Estatal de Participaciones Industriales (SEPI), a state-owned industrial holding under the Spanish Ministry of Finance and Public Function. The agency is governed by a 12-member Board of Directors, whose members are appointed by the General Shareholders Meeting, comprising SEPI representatives. In June 2024, SEPI appointed Miguel Ángel Oliver as the new president of EFE, replacing Gabriela Cañas.

Source of funding and budget

EFE’s primary revenue streams include content sales to clients worldwide and a significant annual state subsidy from the Spanish government. While the agency has faced consistent financial losses, state support has been crucial for its operation.

In 2021, the state subsidy was nearly €54 million, covering over 63% of the budget. By 2022, EFE’s total budget reached €86.6 million, with government subsidies accounting for 62% of this figure. In 2023, the agency received another €54 million, which covered approximately 56% of its total costs. For 2024, the budget is not publicly available.

Editorial independence

There is no evidence of government control over editorial content at EFE. The agency’s journalists are known for resisting authorities’ pressure regarding their coverage. EFE has a Newsroom Statute that establishes the agency’s editorial independence. EFE also has a News Council made up of agency journalists who monitor and oppose any attempts to control the agency’s editorial strategy and coverage.

The appointment of Miguel Ángel Oliver as president of EFE in December 2023, given his past role as Secretary of State for Communication under Prime Minister Pedro Sánchez, sparked criticism from opposition parties and media commentators, who argued that such a profile could compromise perceptions of neutrality at the state news agency. Further concerns were voiced over subsequent senior appointments, which some journalists described as politically motivated.

However, despite heightened scrutiny, no robust, peer-reviewed content analyses have so far demonstrated a systematic pro-government bias in EFE’s output under Oliver’s leadership, and the agency continues to emphasise the safeguards provided by its newsroom statute and editorial council.

August 2025