I must admit, the whole ebu thing seems a bit confusing - what else do they do?
ash
Quite a lot. (And if you think of the EBU as just a club of broadcasters, run by broadcasters, to benefit from the scale of their individual efforts as a whole, it works quite well)
They run the EVN Eurovision Video News exchange service, which is how a large number of European countries share video footage of national stories. The BBC use EVN along with APTN and Reuters to source pictures of events they didn't have crews at themselves (or to improve the coverage where they did). If there is a big story in Paris, then BBC are likely to use pictures supplied by France Television provided by EVN, for instance.
The EBU also, until very recently, negotiated a deal for Olympics sports rights for their members, such that the EBU gained pan-European rights, rather than each individual country negotiating with the IOC for individual rights. They then provided lots of technical assistance in back-hauling the multilateral (host feeds) and unilateral (individual broadcaster feeds) back to Europe, as well as providing streaming services for smaller broadcasters who may not have had them. Unfortunately this deal has now stopped - with the IOC instead negotiating individually, which could mean some EBU primary members no longer have the rights to show the Olympics...
The EBU, as an association of European (and near-European) broadcasters also plays a very strong role in standardisation of technical standards, and also in ensuring that all its members have access to good quality information about the latest broadcast standards, and makes recommendations to its members about what should be used for a given quality level etc.
It's a pretty useful "club" for European broadcasters - and is a good example of European (and near-European) co-operation, independent of a political organisation. (It isn't part of the EU - and includes broadcasters from Europe who are not in the EU - Norway, Switzerland etc. - as well as broadcasters in North Africa, the near Middle-East etc.)