Radio Free Europe was established in 1949 as Free Europe, Inc., with the goal of broadcasting news and current events to nations in Eastern Europe that were behind the Iron Curtain (and under the influence of the Soviet Union). Though established as a private, non-profit corporation, Radio Free Europe was funded by Congress, through the Central Intelligence Agency.
In essence, Radio Free Europe was a form of propaganda fueled by the United States with the goal of making Eastern Europe pro-United States, pro-democracy, and therefore anti-Soviet Union.
Radio Free Europe was generally a success, providing Eastern Europe with the truth according to the rest of the world during the Cold War (or, more accurately, the Western world), not just the Soviet Union-censored propaganda that was distributed by the respective governments. It contributed to the downfall of Communist ideology in Eastern Europe by exposing the reality of the oppressed, or the oppressed to the reality of their oppression.
Even though Central Intelligence Agency involvement in Radio Free Europe ended in 1971, Radio Free Europe continued to do its duty. Withstanding the collapse of the Soviet Union and the end of the Cold War, Radio Free Europe continues its broadcast to this day, over 50 years old and in over 25 languages and locations.
The website of Radio Free Europe, along with Radio Liberty, is at http://www.rferl.org.
See also: Radio Liberty | 
