Looks like Disney's (NYSE: DIS) The Proposal, starring Sandra Bullock, was sober enough to beat Time Warner's (NYSE: TWX) The Hangover.

According to early estimates at Boxofficemojo, the movie grossed $34 million at domestic theaters, making it the top film of the past three days. Proposal was expected to earn $26 million during its first weekend out in the marketplace.

Viacom (NYSE: VIA) issued its Q1 earnings results on Friday. The conglomerate seems to be doing all right with its strategy of leveraging content to drive growth. Revenues were up 15%, and adjusted diluted earnings per share jumped 29% to $0.44. But it can be seen that there's a dichotomy going on if you look into the performance of the two main operating segments: media networks saw its operating income rock up 15% while filmed entertainment tallied up an operating loss for the quarter. Even though that loss was narrowed by over 40%, I always get disappointed when I see a studio in the red -- it reminds me that the movie business is a risky, oftentimes low-return one.

But, should you be down on Viacom's movie business right now? Maybe not, since Paramount is currently distributing Marvel's (NYSE: MVL) Iron Man -- see Sheldon Liber's recent article about the film. That should hopefully improve things going forward, as might Indiana Jones and the Kingdom of the Crystal Skull. Viacom also will be distributing Kung Fu Panda for DreamWorks Animation (NYSE: DWA). Sumner Redstone is certainly counting on these projects to be huge. And speaking of huge, the company's Rock Band continues to fuel the media networks segment -- it's sold by Electronic Arts (NASDAQ: ERTS), and it is apparently holding its own against Activision's (NASDAQ: ATVI) Guitar Hero. The synergies between MTV and the music system are obviously pushing this one. Maybe the studio should get in on the video-game action by greenlighting a movie based on Rock Band -- maybe Jack Black could star in it!

Overall, I think Viacom is performing as it should, and I hope the movie division can bring in some profits during the coming months (I think it will). As for the stock, I'd ideally like to see it a bit lower before I'd consider buying it.

Disclosure: I own shares of Activision and Marvel; positions can change at any time.

Okay, it's time to see which movie studio is going to be on top this weekend (not that I'm a clairvoyant, mind you; nevertheless, I'll give it my best shot). According to the Associated Press, Sony Corporation (ADR) (NYSE: SNE)'s Vantage Point might end up the big winner, with perhaps as much as $20 million in the bank by the end of the three-day period, this according to Jeffrey Logsdon of BMO Capital Markets. After seeing the very effective ads for this political thriller, I agree that it's going to do at least that well. My instinct tells me that its initial gross will be closer to $25 million, perhaps even $30 million. Sony should have a big hit on its corporate hands.

Jack Black's Be Kind, Rewind, on the other hand, probably won't do so hot, in my opinion. It's being released by Time Warner Inc. (NYSE: TWX), and according to Boxofficemojo.com, it will only be in 800 locations. Logsdon ambiguously says it will take in less than $10 million. I say it will take in around $5 million. I hope to see this one in the theaters because it looks like a fun flick; I remember reading about it when it was first proposed, and I liked the idea then as much as I do now after seeing the ads. So I'm hoping this one really surprises. The other one that I want to see is Charlie Bartlett, from MGM. It seems to remind me of one of my very favorite movies, Wes Anderson's Rushmore. It won't have the same idiosyncratic feel of that project, certainly, but I get the feeling it borrows at least some of Rushmore's genetic code. Lions Gate Entertainment Corp. (NYSE: LGF) probably won't see much of a revenue bump from Witless Protection, starring Larry the Cable Guy. The marketing campaign didn't grab me. But it will be in over 1300 locations.

I'm most interested in seeing how The Spiderwick Chronicles does; will Viacom, Inc. (NYSE: VIA) see some renewed life in this one, or will it drop precipitously? And then there's The Walt Disney Corporation (NYSE: DIS)'s Step Up 2 the Streets and last weekend's top film, News Corp.'s (NYSE: NWS) Jumper -- how will their second weekends treat them? The multiplex awaits...

Disclosure: I own shares in Disney.