its third quarter net income rose 46 percent to 47.8 million.

The increase resulted primarily from the ratings leadership and continued strong revenue growth at all five of the Company's established stations, including Nova TV in the Czech Republic, PRO TV in Romania, POP TV in Slovenia, Markiza TV in Slovak Republic and Studio 1 1 in Ukraine, as well as the addition of new operations, TVN in Poland and TV3 in Hungary, the company said.

Third quarter revenue growth was partially offset by a slowdown of advertising sales in September, resulting from the Russian crisis. The slowdown was brief in the company's Central European markets, including the Czech Republic, Slovak Republic, Slovenia, Poland and Hungary. In the fourth quarter, the television advertising markets in these Central European countries have returned to strong double-digit growth.

Over 75 percent of CME's revenues are derived from Central Europe. CME's Eastern European markets, Romania and Ukraine, remain soft and continue to be adversely impacted by the Russian crisis. In both markets, CME is taking action and reviewing alternatives for containing and reducing operating expenses.

CME chief executive officer Michel Delloye said: "Our third quarter financial results reflect the continued viewing and revenue share leadership of our five established stations, offset by a downturn in advertising sales in September due to the Russian crisis, as well as continued start-up losses of TVN in Poland and TV3 in Hungary.''