Here Is the Media Stock Jim Cramer Would Buy Right Now - Hint, It's not Disney
Jim Cramer revealed the five stocks he would buy right now during his exclusive video-conference call with members of his Action Alerts PLUS club for investors on Wednesday, Nov.
With Disney+ finally launching, Walt Disney , the world's largest media company, would be the logical choice for the stock that Action Alerts PLUS portfolio manager Jim Cramer would purchase right now.
But,there is another media company that has Cramer's eye.
Viacom thanks in part to the pending culmination of its merger with CBS is the media company that is most attractive to Cramer currently.
"Viacom, which sells at 6 times earnings and has a 3.5% yield, will be running the merged show but Shari Redstone, whom I have had the privilege of meeting, has placed her faith in Bob Bakish the CEO of Viacom who has engineered an unheralded turnaround," Cramer said.
He went on to note that CBS has been running as a captainless ship since the ouster of Les Moonves in the wake of the Me Too movement.
But the new management team is already being assembled.
"The merged entity will have the best sports contracts, the best drama and comedy shows on cable, the second best's kids programming, and a profitable production studio with Paramount," Cramer said.
"Come December when this deal closes, we are going to have a coiled spring on our hands." Viacom beat analysts' top- and bottom-line expectations on Thursday, reporting earnings of 79 cents a share on revenue of $3.43 billion.
Disney and Viacom are key holdings in Jim Cramer's Action Alerts PLUS charitable trust.
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