The European Union's enlargement eastwards and changes in its membership have resulted in Audiovisual Eureka deciding to close down in June, leaving Hungary, Romania, Bulgaria, and states of the former Yugoslavia without a broad support programme.

In a statement, the Brussels-based body explained the context for the decision: "the geopolitical developments that have recently taken place in the European audiovisual sector (including the shift towards participation of most candidate countries in the MEDIA Plus Programme and the Eurimages Co-production Fund) and following an in-depth assessment of AVE's objectives and activities."

AVE was founded in 1989 through a Joint Declaration adopted by the Ministers of 26 European governments and the President of the European Commission "to contribute to the development of a vast European area for co-operation and fruitful exchanges in the audiovisual sector, with special emphasis on the policy objective of cultural identity and diversity."

Since 1996, AVE focused its efforts on the countries of Central and South-Eastern Europe with a view to bringing them closer to the audiovisual policies and support programmes of the European Commission and the Council of Europe.