TV group CME sees ad market bottom in Q3

PRAGUE, July 29 (Reuters) - Broadcaster Central European Media Enterprises (CETV.O) (CETVsp.PR) expects the decline in television advertising spending to end in the third quarter, the firm said in an investor presentation on Wednesday.

The television group operating in seven central and east European countries said it expected a return to the level of 2008 spending by 2011.

It said it would give earnings guidance in October.

The company reported a 75 percent drop in second quarter earnings before interest, tax, amortisation and depreciation earlier on Wednesday. [ID:nLT684130] (Reporting by Jan Lopatka)