CBS (CBS) closed yesterday's session at a price of $17.51. Volume wasn't great, but it was a holiday, so I'm sure that affected the trading. What made me take note of the movement was the fact that the shares are not far at all from the 52-week high of $17.64.

I've been wary of buying the broadcasting company. Back in August, when I took a look at the Q2 report, I expressed some reticence toward the technical quality of the stock compared to other opportunities. Besides that concern, I suppose one always has to be careful with significant exposure to network television, as many consider such a traditional business challenging in an age of digital distribution and intense competition from cable channels.

NBC Universal has been a disappointment for General Electric (GE). Will the company, after the transaction involving it, GE and Comcast (CMCSA) goes through (assuming it does), see an improvement in its future prospects? I sure hope so, but I have to say, if the new leaders simply engage the same old strategies as before, then I don't have a lot of confidence.

It's been reported that Jeff Zucker will be leaving. On the surface, one might, on an instinctual level, feel positive about the exit of the studio's CEO. As we all know, change can be good; reboots can oftentimes act as catalysts that transform an operation into a stronger entity.

Time Warner (TWX) was trading higher at the time of this writing by 2%. A quote of $31.37 just went by on my screen. The 52-week low for the stock is $26.43 while the 52-week high is $34.07. Should investors take a look at the media company?

I was thinking about Time Warner today because there are news reports out concerning management's desire to make premium video on demand a reality. We've been hearing about this strategy for a long time, and I hope it finally comes to pass in a major way. Basically, according to the Los Angeles Times, the plan is to charge a high amount (perhaps as much as $30) for a film shortly after it appears in theaters but well before it hits other distribution channels such as Netflix (NFLX). We may see some activity on this front next year.

I last wrote about Martha Stewart Living (MSO) back in February. In that piece, I applauded the fourth-quarter performance; unfortunately, I also was honest and said I didn't like the business from a long-term perspective. I still feel this way. It's the whole too-dependent-on-one-personality thing that makes me hesitant. Still, you can try to trade the shares every now and then, I suppose.

I decided to check in again on the company. I was reminded to do so by the following article at The Hollywood Reporter. It discusses the potential merits of a partnership between Martha Stewart's business and Hallmark Channel, which is owned by Crown Media Holdings (CRWN).

Viacom (VIA.B) issued a press release at the beginning of the month touting MTV's excellent summer. The cable asset is apparently very satisfied with the ratings generated by some of its famous franchises.

Management said MTV's performance from June through August was the best in three years. Ratings increased 16% on a year-over-year basis during that time period. Without checking, can you guess what was highlighted near the top of the release? I'm sure Jersey Shore immediately came to your mind. The show engaged 5.8 million total viewers at its series high.

Netflix (NFLX) looks like a buy. And then again, it looks like a sell. Don't you hate that? Louis Navellier was recently bullish on the movie-rental company. I see his point. But I also see the one-year chart as maybe a reason to take profits at this time. Inarguably, the stock has had a nice run.

A little over a week ago, Wade Hansen discussed the streaming success the company has had and also analyzed the technical prospects for the equity. There's no question that the management team wants to aggressively move its business model forward from physical media to digital delivery. Considering the brand equity in place, I believe the service has a good shot at achieving long-term success.

I've been thinking about the whole Jersey Shore zeitgeist. You know the show. It's on Viacom's (VIA) MTV. It's a huge hit, everyone is talking about it and its stars (Snooki, The Situation, etc.). It also was mentioned in a recent conference call the media company had with investors.

It was reported that the cast was able to significantly increase its salary for the reality series. When I first heard about the demands, I mused to myself that this was a grand opportunity for Hollywood to say no to minor celebrities. After all, it's just a reality show, folks. Even though Snooki is immensely popular, there are many more Snooki-type individuals out there. Dime-a-dozen comes to mind when thinking of the goofy girl with the poofy coif.

Disney (DIS) will tell investors how it did during the fiscal third quarter on Tuesday after the market closes for the day. The company will hopefully report some great numbers because, quite frankly, the stock has been somewhat boring this summer; a little fundamental excitement would, at the very least, ease the tedium of the price action.

Net income is expected to be somewhere around 58 cents per share. That's six pennies higher than the previous year's performance. That wouldn't be bad, I suppose, given the economic climate, but I certainly hope that the Mouse has more than a six-penny increase up its sleeve. Back in the second quarter, management was able to beat the estimate.