Revenue at the Broadcasting German-speaking segment would decline by a mid-single digit percentage year-on-year, where it had previously predicted an improvement, the company said in a statement.

The company reaffirmed its target for full-year adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) and adjusted net income to exceed the prior year's level, banking on improved advertising trends in the fourth quarter.

It added it was seeing a continued positive development of its TV distribution, content production and digital activities in the third quarter/

(Reporting by Ludwig Burger; Editing by Alison Williams)