I know what you're thinking, I asked myself the same question: Why is a political/culture-warrior talking about Hannah Montana? It almost looked like his producers forced the subject on him or something. My thought was that since Miley Cyrus (who, for those of you living under a rock for the past two years, is Hannah Montana) was interviewed by Barbra Walters on Oscar night, Mr. O. considered it was worth exploiting the interview and possibly get in a few jabs at Babs in the process.
(Aside: Walter's interview of Harrison Ford: Worst. Interview. Ever!)
O'Reilly spoke as if his audience didn't know who he was talking about (believe me, Bill, I'm willing to bet large sums of money that your audience knew who you were talking about because I'm willing to bet large sums of money that the majority of your audience has kids). When Bill commented that it is just a matter of time before she falls down the path treaded heavily by the likes of Britney, Lindsey, etc., etc., the editor from Life & Style (which can be found next to Us and People in your local grocery store's check-out line), pointed out Miley's strong and close support from her family. Her mom is her manager, and her dad plays, well, her dad on the show. When Miley, who is only 15, said that her parents have control over much of her life in the Walters interview, O'Reilly translated that as "Controling", with a rather evil connotation, like they were going to use the girl up and take all the money she has earned for themselves.
The exchange that I found the most amusing was when O'Reilly said to the L&S editor, "So, she's the biggest thing in marketing since Elvis."
The answer was obvious to O'Reilly, but the L&S editor came back with several examples of young stars that struck hot in the moment: Britney, Lindsey, Hillary Duff (O'Reilly: "What happened to her?"), and their kind, and I would probably add David Cassidy, Leif Garrett, or Debbie Gibson and Tiffany.
"So, she's the biggest thing in marketing since Elvis," O'Reilly repeated, but I don't think the L&S went so far as to agree with him.