RTL, owner of Channel Five and The X Factor producer FremantleMedia, has reported that like-for-like revenue declined 6.4% to €1.1bn (£980m) in the three months to the end of September.

Despite the decline the pan-European broadcaster and producer, which is majority-owned by German media group Bertelsmann, said that the TV advertising outlook has been improving since late summer.

"Since September 2009 advertising bookings have been better in almost all of RTL Group's markets, compared to the first eight months of the year," the company said. "However, as there is no visibility for the rest of the year, the group remains cautious."

RTL reported adjusted earnings before interest tax and amortisation up 7.4% to €101m. However, in the nine months to the end of September adjusted EBITA was down 22.7% to €474.

The company said that a strong focus on cost cutting across its core TV broadcasting businesses had "continued to yield positive results", with operating costs falling by €289m year on year for the period January to September.

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