Pan European broadcaster RTL, owner of Channel Five, has admitted that the TV advertising market in the UK has been tough in the first quarter of 2008, as it reported an overall drop in underlying revenue of 2.9 per cent to E1.323billion.

RTL said that its German broadcasting business had performed well, while the UK and France were responsible for the revenue dip.

However, the company, which owns more than 70 TV channels and radio stations across Europe as well as production arm Fremantle Media, said it had a “good start” to 2008, reporting a boost in profits of 8.7 per cent to E188 million for the perio

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