Dick Clark's New Year's Rockin' Eve is a tradition for many Americans. Some tune in to catch a particular musical act; some just keep it on mute to watch the ball drop. The program has aired every December 31 since 1972 on The Walt Disney Company (NYSE: DIS)'s ABC Network and is typically a high ratings draw for the network, particularly at a time when so many regularly scheduled programs are in reruns.

Living legend Dick Clark has served as host or co-host for every broadcast with two exceptions, the most recent being 2004, as he recovered from a stroke. The last two years, Ryan Seacrest, of American Idol hosting fame, has helped man the mic in Times Square. In 2005, it was announced that Seacrest will be handed the hosting torch should the 77-year-old Clark be unable to perform his time-honored role.

But count on ringing in 2008 with the Idol emcee and the "America's Oldest Teenager." It was announced this week that the pair will again share hosting duties for the 36th edition of the broadcast. The show will run 3-1/2 hours and begin at 10 p.m. Eastern time on - when else? December 31 (it's a Monday this year).

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