CME operates TV channels in Bulgaria, Czech Republic, Romania and Slovakia. All four territories showed significant growth in Q3, with Bulgaria and Slovakia registering particularly robust improved revenues, up 10.4 percent and 8.1 percent respectively.

Michael Del Nin, Co-Chief Executive Officer, commented: "Our strong momentum from the first half of 2017 continued through the third quarter, positioning us very well as we head into the final months of the year, and providing a very solid base as we look to grow further in 2018. As a result of strong gains in OIBDA and unlevered free cash flow, we are able to raise our guidance for the full year, and with our net leverage ratio now below 6x, we will see our average borrowing cost decline by 125 basis points to 6.0%, its lowest level in eight years."

Christoph Mainusch, Co-Chief Executive Officer, added: "Our operations posted very strong results through the summer, culminating in one of the most successful launches to our fall season and contributing to higher audience shares so far this year in three out of four territories. We are investing in content because audiences continue to demand high quality local productions, but have mostly offset that with other savings to improve profitability."