Netflix, already roughly USD 12 billion in debt, announced twice in 2019 that it planned to raise an additional USD 2 billion in junk bonds (bonds issued by companies considered likely to default that are high-yield to compensate investors for the inherent risk) in order to finance programming and production costs. Is Netflix digging itself into a hole by accumulating debt, or is it making strategic investments to create more content that will pay off in the long run?
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