Just as Apple (NASDAQ: AAPL) is launching new models of its iPod, its relationship with major movie and television studios may be changing significantly. The decision of General Electric's (NYSE: GE) NBC Universal to pull its music and video downloads from the iTunes store due to a dispute over pricing is making other companies take a hard look at their future with Apple.

According to Reuters, "two media executives involved in discussions with Apple say they see an opportunity to seize control over their digital destinies, emboldened by NBC Universal's actions." News Corp (NYSE: NWS), Viacom (NYSE: VIA), and Time Warner (NYSE: TWX) all have video distribution deals with Apple and at least two of these expire in the next year.

Apple's decision to price all TV shows at the same level regardless of their age or popularity has angered many media companies.

Reuters says that there is a second issues which is just as troubling for Apple's video partners: Owners of Hollywood and TV studios, fearful of the fate that befell the music industry, want a firm commitment from Apple to prevent the downloading of pirated shows and movies on the iPod.

The video content companies may not get what they want. And, they may quit the iTunes platform. Jobs & Co. may end up with advanced iPods with better screens for video but less of a library to offer.

But, if the iPod keeps selling 10 million units a quarter, Hollywood will be back.

Douglas A. McIntyre is a partner at 24/7 Wall St.

CBS (NYSE:CBS) today announced results for the second quarter that were dreadful.

Net income plunged 48% to $404 million, or 55 cents per share, versus $781.7 million, or $1.02 per share, a year earlier. Revenue fell 3% to $3.4 billion.

Operating income before depreciation and amortization ("OIBDA") of $859.4 million and operating income of $749.9 million for the second quarter of 2007 remained flat with $858.9 million and $750.3 million, respectively, for the same prior-year period.

On an adjusted basis, excluding tax benefits from iincome tax settlements in both years and the pre- tax gain and related tax effect of station divestitures, net earnings from continuing operations increased 9% to $393.1 million, or 54 cents. Analysts had expected a profit of 51 cents per share on revenue of $3.42 billion..

Nothing to write home about.

Where is Mel Karamzin when you need him?

Douglas A. McIntyre is a partner at 24/7 Wall St.

Shari Redstone, has clashed with her cantankerous father Viacom Inc. (NYSE: VIA) Chairman Sumner Redstone over the future of the family's National Amusements theater chain and plans to leave the media company's board, according to the Wall Street Journal.

Sumner Redstone wants to cash out of the theater business and focus on casinos while Shari Redstone is "confident" in the future of the business, the paper said. But for VIacom, there is more at stake than just family pride. The 84-year-old Redstone has no designated successor which raises questions about the future of Viacom because to put it bluntly the tycoon isn't going to live forever.

Shari and Sumner Redstone are far from the only family fued at large media companies. In fact, Redstone has also had a falling out with his son Brent who later filed suit and got bought out of the family business, something which his sister also wants, according to the Journal.

News Corp. (NYSE: NWS) CEO Rupert Murdoch has had a rocky relationship with his children. Of course, the Bancroft family that controls Dow Jones & Co. (NYSE: DJ) has been squabbling about Murdoch's efforts to buy the publisher of the Journal. Then there's the Dolans of Cablevision Systems Corp. (NYSE: CVC) whose family fights are always entertaining.

There are exceptions. The Washington Post Co.'s (NYSE: WPO) Grahams seem to be a content lot and with Warren Buffett helping run their family business who can blame them. The Sulzberger clan of the New York Times Co. (NYSE: NYT) also seem to keep their dirty laundry private. Comcast Corp. (NASDAQ: CMCSA) Chief Executive Brian Roberts and his father Ralph, who built the cable empire, seem to get along just fine as well.

But unless Dr. Phil can bring father and daughter together, the Viacom fight won't be solved any time soon. That's reason enough to avoid the stock.

Google's highly-touted deals with MySpace.com and MTV Networks this week are pretty prolific for all parties involved. Google will further entrench its AdSense platform into two incredibly-popular web properties -- Viacom's MTV Networks and News Corp.'s MySpace.com -- at a time when both media companies needed a workable advertising solution to ensure monetary growth in both businesses. And, Google will reap the benefits of providing highly-relevant ads in front of hundreds of millions of potentially new eyeballs.

Was MySpace.com in trouble? It depends on your perspective. While the site has rocketed to almost the top spot in monthly web visitors, coming close to perennial leader Yahoo!, the way in which it brings money to the News Corp. corporate table was a pretty large unknown. Only one thing was known: MySpace.com was generating an unreal amount of visitors, ad candy to many large companies that probably wanted to purchase the property. In the end, Rupert Murdoch and News Corp. won the deal.

Now it's time to monetize that traffic without destroying the look, feel culture and uniqueness of the property -- a sure sign of driving away visitors that happens all too often when a large corporate takeover of a spirited, young and hip company happens. Google's deal with MySpace.com this week will provide that in customary Google fashion most likely (read: lucrative). Additionally, Google's deal with MTV Networks to syndicate clips from the network on Google's global AdSense network will also provide a nice boost to MTV as well as further entrench AdSense as the new ad medium for the next decade, if it's not there already.

Brian White has worked in various executive positions in technology and telecommunications and now focuses on editing and writing.