Q3 revenues showed some improvement in trend. However, the uptick was more muted than we had hoped for (with regional weakness dampening better national ad trends, and internal initiatives not yet really impacting). We leave full year PBT estimates unchanged but trim EPS. The update on acquisition talks with Northern & Shell is a little more encouraging, as the group “continues to make progress” on discussions. Overall though, we remain in ‘wait and see’ mode regar
