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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

Deadliest Catch, a documentary on crab farming season in Alaska (left), is one of Discovery's reality TV hits. The company has now moved into scripted programming.

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...

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