Merrill Lynch & Co. (NYSE: MER) may wind up selling its 20% stake in Bloomberg L.P., the parent of Bloomberg News, to Mike Bloomberg.

Bloomberg, whose personal fortune is estimated by Forbes magazine at $5 billion, can easily afford the buy back the 20% stake in his company that he does not already own. Given its financial condition, Merrill better hope that the New York mayor is willing to open his check book. Other media companies are not going to shell out big bucks for a minority stake in the company where I worked for seven years. This is especially true given that many of Bloomberg's biggest customers in Wall Street are cutting spending given the uncertainties in the world's financial markets.

Maybe the private equity players would be willing to pay up provided that they could see an exit strategy through an IPO. I don't see that happening either. Bloomberg, which the Wall Street Journal says has the right of first refusal for the sale, likes being a private company because it enables it to march to the beat of its own drummer. That was especially true when Mike Bloomberg ran the show.

I didn't think Get Smart was going to come in at number one, but that's exactly what happened, according to Boxofficemojo. The film, distributed by Time Warner (NYSE: TWX), took in an estimated $39 million at domestic theaters. The film, quite frankly, looks horrible, and I don't get the fascination people have with Steve Carell's supposed "comedic talents." I don't really find him funny. Doesn't matter, though, because moviegoers have crowned Carell king of the box-office weekend whether I like it or not.

I'm actually more concerned with the race for second place between Marvel's (NYSE: MVL) The Incredible Hulk and DreamWorks Animation's (NYSE: DWA) Kung Fu Panda. Both are estimated as of this writing to have booked a little more than $21 million in ticket sales. I'm concerned about this because I own shares of Marvel, and I'm disappointed in the movie's box-office performance. As of now, the new Hulk has about $96 million in terms of total gross. The fact that it hasn't scored over $100 million by now, coupled with it experiencing a 60% drop for this weekend compared to its debut weekend, leaves me less than satisfied.

Viacom's (NYSE: VIA) The Love Guru bombed. Looks like you can't always count on stars to deliver the important opening-weekend audience. Are people getting sick of Mike Myers? (Jonathan Berr wondered the same thing.) He was only able to conjure up about $14 million for Viacom shareholders, bringing his film to a fourth-place debut. That's embarrassing for Myers, but unlike Steve Carell, he is genuinely funny (although maybe not so much in this particular film, it seems). News Corp.'s (NYSE: NWS) M. Night Shyamalan movie The Happening grossed around $10 million and came in fifth.

Recently, Jonathan Berr took a look at CBS (NYSE: CBS) and its latest quarterly results. One of the things I found most interesting about the earnings release was the fact that CBS's dividend reputation is very much intact -- management raised the quarterly payout by 8% to $0.27 per share. It can certainly afford to do this as free cash flow was up 25% in the last quarter, and the amount was more than adequate for the dividend. CBS has been pretty good about increasing the payments, but I happened to come across a headline at CNBC that talked about Jim Cramer's concerns about CBS -- he basically would rather the media company focus on growth instead of income.

His point is a good one, and well-taken -- after all, growth is pretty darn exciting. But I think CBS management has been great at sharing the spoils with its stockholders, and I always think it's a neat thing when a media stock yields a decent amount. CBS currently yields 4.5% based on Monday's closing price -- that's a lot bigger than the yields offered by Time Warner (NYSE: TWX) and Disney (NYSE: DIS). Yes, it's a cliché, but shareholders are getting paid to wait, and that's awesome if you intend to hold the stock for a long time. As a Disney shareholder, I can tell you that CBS's yield makes me envious!

I think CBS will turn out to be more than just an income play though. I'm confident the company will grow the price of its stock over time. Granted, major networks aren't what they used to be in this world of cable television, but the landscape continues to change with new digital distribution models popping up all the time, and networks like CBS are looking to participate wherever it makes sense to do so. Considering CBS's ability to generate cash and its willingness to share, I have a feeling capital appreciation will eventually follow the dividend boosts.

Disclosure: I own shares in Disney; positions can change at any time.

Whoever invented the Wii Fit, a virtual gym that can be used in conjunction with the gaming console, deserves a medal. Heck, he or she deserves a raise because it's going to be a huge seller for Nintendo Co. (OTC: NTDOY).

This game is perfect for someone like me who doesn't exercise as much as he should, which in my case means hardly ever. The Wii Fit, which will be available May 19, also will be useful for parents trying to get their children to exercise more. "Wii Fit is all about breaking the definition of video-gaming, about something that keeps you and your family fit and engaged," said Reggie Fils-Aime, president of Nintendo's U.S. division, in an interview with The Wall Street Journal.

The reported tiff between CNBC's Money Honey Maria Bartiromo and upstart Erin Burnett, whom the New York Post dubbed the "Street Sweetie,'' is mana from heaven for News Corp. (NYSE: NWS) Chief Executive Rupert Murdoch.

His Post gets a juicy chick fight to write about -- although the General Electric Co. (NYSE: GE) cable channel denies there is a fight -- and it makes a rival to his yet-to-be launched Fox Business Channel look foolish as a bonus. Plus, it gives Fox a good excuse to try and lure either one of them away from CNBC. Interesting how corporate synergies work in today's media world.

Mind you, I have no idea whether Bartiromo and Burnett hate each other or not. Usually, Page Six is pretty truthy in the Stephen Colbert sense of the word. You have to think that someone close to Bartiromo or Burnett -- perhaps the person who looks back at them in the mirror -- is spilling their guts to the Post. Yes, the media world is just like high school.

Bartiromo has long been a subject of the gossip pages. I urged CNBC to fire Bartiromo earlier this year after her relationship with ousted Citigroup Inc. (NYSE: C) executive Todd Thompson brought derision on the network. Since then, she's indicated that she's more interested in being a TV star than a journalist. Burnett, whose path I crossed when I was at Bloomberg News, is gaining the good kind of publicity. In fact, Broadcasting and Cable called her CNBC's "secret weapon."

But there's an extra dimension to this tabloid battle that's worth considering.

There are many media conspiracy theorists who argue that Rupert Murdoch will tabloid up the Wall Street Journal once he gets a hold of Dow Jones & Co. (NYSE: DJ). I think that these fears are overblown. Murdoch won't use the Journal to settle scores with his enemies and heap praise on his friends. Why should he when the Post does that so well?

It really shouldn't come as too big of a surprise, but today's release of housing starts for May show another tough month. The subprime mortgage woes continue to weigh on lenders, who have been seriously cutting back on loan approvals for new home buyers, and who can really blame them? As Jonathan Berr wrote last week, foreclosures have been rising -- with May seeing a jump of 90% -- and show no signs of slowing.

So, given the current mortgage situation, it was not a shocker to see another month of weak home starts. Last month saw a 2.1 percent drop in construction of new homes and apartments. This is what analysts had been expecting to see, and represented the weakest month since January. We now see construction levels a pretty amazing 24.2 percent below this time last year.

If you are crossing your fingers and hoping to see construction numbers rise over the next couple of months, I wouldn't. Things are pointing to even worse numbers moving forward. Builder sentiment is now running at the lowest rate it has been at during the past 16 years. In May the NAHB/Wells Fargo Housing Market index was sitting at 30, and analysts were expecting to see that level hold this month, but that was not to be. After a 2 point drop down to 28 we are at a point where we haven't been since way back in February of 1991 when the index dipped down to a measly 27.

While the picture is not looking good, once again, this is nothing new or shocking. We have known for a while that the market was weak and foreclosures were on the rise, and lower construction is just the natural reaction to what is going on in the marketplace. As more people find themselves struggling to keep up with their mortgages, more and more houses are going to hit the market, and at lower prices than we have seen in recent years.

BloggingStock.com's Jonathan Berr had a good piece on the implications of Sarbanes-Oxley (SOX). This is a federal law that Congress rushed into effect after the implosions of Enron and WorldCom. Basically, SOX has imposed some tough regulations on public companies in terms of disclosures and internal controls.

However, SOX can be difficult for small companies and some critics think that the U.S. IPO market has, as a result, been stunted. In fact, some U.S. companies are listing their shares in more favorable markets, such as the AIM market in London.

Well, there may be some change. Today, the Nasdaq announced that it has hired former Senator Michael Oxley as its non-executive vice chairman. No doubt, he will be a great advisor, but he may also help the financial industry push for adjustments in SOX.

It's likely to take time, but Nasdaq's move is definitely savvy.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

I received a torrent of comments to my recent blog post: American Idol: Are Indian call centers skewing the vote? and some of the responses had me rolling with laughter. I'm sure my perspective will not be shared by all, but shared it will be. Among all opinions there was consensus that contestant Sanjaya has outlasted his level of talent. My colleague Jonathan Berr had a different view when he posted Vote for the Worst is messing with American Idol, not Indian call centers. Still others thought Sanjaya was still on the show because he was an anti-judges vote, or young and cute, or even gay... a gay vote?

Having read everyone's thinking on the subject, which was one of my motivations for writing the story, I think it is all of the above. I hope that the "Vote for the Worst" does not have a major impact on the eventual outcome. Consider that the show has created opportunities for young talent to gain an audience, while entertaining millions with something better than infomercials and melodramas about doom and destruction.

The funniest comment of the week goes to VM who thought to critique my commentary with humor and succeeded. Thanks VM:

I own 25 call centers in India, and all my staff is just sitting idle during the American Idol. It is the great Indian Idle during American Idol.

So I have asked them to download the American Idol video -- as it is available on Bit Torrent as soon as it is aired -- there are lots of fans in India who download the show immediately, and get Sanjaya's number and start voting for him. For every vote, I reward with a point, and with every 100 points, they get a pay grade increase. So -- American Idol contestants, contact me if you want to win -- I can hook you up.