According to The Hollywood Reporter, media conglomerate Disney (NYSE: DIS) intends to keep the song going at the High School Musical workshop. The fourth film in the series will return to the small screen, debuting on the Disney Channel sometime next year. You'll recall that the last film, High School Musical 3: Senior Year, was a big-screen effort. It was released to theaters back in October and went on to gross a little over $90 million at the domestic box office.

If content is king, then Viacom Inc. (NYSE:VIA) should at least be a duke or maybe a baron. Instead, the parent company of Comedy Central and VH1 is seen by investors as a peasant.

Shares of Viacom have fallen 6 percent over the past year, while former corporate sibling CBS Corp. (NYSE:CBS) has soared 24 percent. Wall Street expected much more from Viacom and so did Chairman Sumner Redstone who replaced Tom Freston as chief executive and appointed Philippe Dauman in September.

Since then, Dauman has been flexing Viacom's muscles.

Earlier this month, he ordered Google Inc.'s (NASDAQ:GOOG) YouTube to remove 10,000 clips from its site that had been put there illegally. The company plans to cut jobs at its MTV networks unit as it focuses its efforts on creating digital content. The Financial Times pegs the reductions at 300, while the New York Post says it's 500. The Post says the company expects to save $250 million from the move.

Beneath all of the drama, though, is a very strong business. The New York-based company reports fourth-quarter earnings on March 1. Analysts are expecting earnings of 58 cents on revenue of $3.15 billion, according to Thomson Financial. There are plenty of reasons to be optimistic about Viacom.