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Media companies try to spend their way out of cable TV crunch
But investors are concerned the spending may become a permanent drag on profit
Add BT as a preferred sourcePublished Thu, Mar 3, 2016 · 09:50 PM
Los Angeles
MEDIA companies have settled on a strategy to combat declining viewership at their TV networks: spend, spend, spend.
Discovery Communications Inc, Viacom Inc and Starz have all said in recent weeks that they must spend more on programming. While that's good for viewers - who get to watch an unprecedented number of new TV shows - it's worrisome for investors who have already sent media stocks tumbling over concerns about shrinking TV audiences and slumping advertising sales.
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