Viacom

Media streamers wrestle with high debt loads

Data: Moody's; Chart: Axios Visuals

Streaming companies are accruing more debt to sustain heavy investments in content, and their leverage is historically high.

Why it matters: While most analysts agree that the debt loads at these companies are manageable for now, some firms are beginning to feel investor pressure to manage rising debt before it gets out of hand.

CBS and Viacom agree to massive merger

In this illustration, a piece of paper with the CBS and Viacom logos are taped together.
Illustration: Sarah Grillo/Axios

CBS and Viacom reached a deal on Tuesday to merge into ViacomCBS Inc., reuniting the 2 companies 13 years after they split apart.

Why it matters: The deal will bring together Viacom's nearly two dozen cable channels with CBS' flagship broadcast network and its premium cable network, Showtime. The combined scale from the merger will help the new company broker stronger distribution deals with Pay-TV providers and allow it to better compete for audience attention and ad dollars.