NBC kicked off the upfront ad presentations this week, but the network did it differently. NBC (parent network of CNBC) already unveiled its primetime lineup six weeks ago, so NBC's upfront week extravaganza wasn't a presentation, but more of a theme park-like interactive attraction.

Today kicks off the upfront ad sales period--the week in which the broadcast networks traditionally aim to sell the majority of their primetime ad inventory. But this year you won't see the traditional star-studded red carpets, screenings of strings of pilots or post-presentation extravaganzas at New York landmarks like Tavern on the Green.

News Corp. is benefiting from its global diversity and a strong TV business, and it doesn't seem to be hurt by the U.S. economy's downturn. And now, investors are saying the stock is undervalued.

News Corp raised its guidance earlier this year, so now the big question facing the company is whether, in the face of an economic slowdown, it'll be able to live up to those higher expectations.

The Walt Disney Company reported another stellar quarter, with earnings of 58 cents per share, blowing away Wall Street's consensus earnings estimate of 51 cents per share, while revenue came in at $8.71 billion, also beating analyst expectations, and up 10 percent over last year.