The underdog tale of Slumdog Millionaire and the bittersweet nomination of the deceased Heath Ledger may have had a few more people tuning in to last night's Oscar broadcast, which aired on Walt Disney's (NYSE: DIS) ABC Network. Preliminary Nielsen ratings indicate a 6% increase from last year.

The bad news? Last year marked a record low for the awards broadcast as 32 million viewers tuned in. And this year, if early numbers hold true, will be among the three least-watched Academy Awards broadcasts ever.

For the second time in three years, The Academy of Motion Picture Arts & Sciences, which hands out those coveted little gold Oscar statues, has selected satirist Jon Stewart to fill the nerve-wracking position of host. Stewart hosted the grand affair in 2006 and earned mixed reviews ... some said his particular brand of humor failed to connect with the target audience, while others thought it not biting enough.

I thought Stewart was far-and-away the best part of that particular year's broadcast, with the possible exception of Three 6 Mafia's live performance of the Oscar-winning "It's Hard Out Here For a Pimp." (Click here for a look at Stewart's monologue from the 2006 Oscar broadcast.) Last year, comedienne and daytime talk-show host Ellen DeGeneres assumed the thankless task.

An Associated Press report indicates that producer of the Oscar telecast, Gil Cates, described Stewart as smart, quick and funny, not to mention a great guy. (He failed to add that it will be intriguing to have an expert in political satire hosting during an election year). The liberal long-time host of The Daily Show has taken home 9 Emmys for the "fake" news show and has previously served as master of ceremonies for the Grammy awards and Saturday Night Live, not to mention Elmopalooza.

Always ready with a witticism, the diminutive Stewart noted that he was honored to be asked for a repeat performance, because the third time, after all, is the charm. The Oscars ceremony, the 80th of its kind, will be held February 24th at the Kodak Theatre in Hollywood. They will be televised on Walt Disney's (NYSE: DIS) ABC Network, which has a contract with the Academy through 2014.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

In a move that has infuriated TV academy officials, various L.A.-based members of the academy leaked (via text messages) potential Emmy nominees, noting the 10 programs being screened in the comedy and drama categories. The story quickly leaked to media outlets including the New York Post, and a small-screen hullabaloo was born.

A spokeswoman with the academy noted that all members involved with the voting are required to sign a confidentiality agreement. She added that her organization would "not comment on any violations of that [confidentiality] agreement or on any speculative reporting of nomination data."

With the suspense slightly dashed, it is bad news for the Academy of Television Arts and Sciences, but there is good news for struggling General Electric (NYSE: GE) unit NBC, which scored 6 of the 20 "possible" nominations. Walt Disney's (NYSE: DIS) ABC network scored 5. Other networks represented on the list included News Corp.'s (NYSE: NWS) FOX, CBS Corp.'s (NYSE: CBS) eponymous network and Showtime, and HBO - a division of Time Warner (NYSE: TWX).

With the Grammy Awards now behind us ("My Humps?" Really? And did I actually see Slayer on the list of winners?), the red-carpet watchers can turn their collective attention to Oscar night, which is now less than two weeks away.

A handful of publicly traded entertainment companies will be in focus as potential beneficiaries of eight and a half pounds of gold-plated honor. This year may be one of the least exciting broadcasts, with clear front-runners already established in the major categories. Forest Whitaker has come a long was from Fast Times at Ridgemont High, with a powerful turn as Idi Amin in The Last King of Scotland, released by Fox Searchlight, a division of News Corp. (NYSE:NWS). Fox Searchlight was also the force behind Little Miss Sunshine, a simple family dramedy holding its own against some major competition and nabbing a Best Picture nod.

As for Best Actress, a Helen Mirren victory seems like a foregone conclusion for her nuanced turn as Queen Elizabeth II in The Queen (also a Best Picture nominee). The Queen was released by Walt Disney's (NYSE:DIS) Miramax division. (Incidentally, the Oscars will air on DIS unit ABC Networks).

Beth Gaston Moon is an analyst with Schaeffer's Investment Research.

This post is written as part of AOL Money & Finance's Best & Worst 2006. If you think that Tom Cruise makes too much money, cast your vote.

Long-considered one of the big guns in Hollywood, Golden Globe Award-winning actor and producer Tom Cruise is the only actor to have six consecutive $100 million plus blockbusters to his credit.

His acting career began when he was sidelined from the high-school wrestling team by an injury and he auditioned for and won a role in the school production of Guys and Dolls. He became a star after dancing in his underwear in the 1983 film Risky Business, for which he reportedly earned a measly $75,000. After 1986's Top Gun put Cruise in the six-figure salary range, he earned his first Razzie Award nomination for 1988's Cocktail. Critically acclaimed Rain Man, Days of Thunder, and A Few Good Men followed. In 1996 he starred in and produced Mission Impossible, the first in the blockbuster franchise, and earned an Academy Award nomination for his role in Jerry Maguire. Later blockbusters include Minority Report, The Last Samurai, and War of the Worlds (which reportedly earned him $70 million plus a percentage of the profits, as well as more Razzie nominations).

But in recent years his personal life has begun to attract more attention than his film roles, notably Cruise's very public advocacy of Scientology and anti-psychiatry statements, coupled with the tabloid speculation about his romantic relationships. In May 2005, during an interview on the Oprah Winfrey Show, Cruise unexpectedly leaped onto the couch to profess his love for Katie Holmes, an incident that was voted #1 of 2005's Most Surprising Television Moments on a countdown on E!. Economic damage due to Cruise's controversial public behavior and views was cited as one reason for the end of the 14-year relationship between Cruise's production company and Paramount Pictures.