Is Comcast in Acquisition Mode?

Is Comcast (CMCSA - commentary - Cramer's Take) getting ready to buy someone?

We know that this country is being divided rapidly into three phone companies: Verizon (VZ - commentary - Cramer's Take), AT&T (T - commentary - Cramer's Take) and Comcast. We know that all three have room to grow and need to grow -- witness Verizon's persistence in acquiring Alltel.

This morning, Pali has a note out about the heavily indebted Time Warner Cable (TWC - commentary - Cramer's Take) sub and how it was done to make it so that the parent could have flexibility. Who knows what is happening to Cablevision (CVC - commentary - Cramer's Take), but it is nothing that helps the operation. The absolutely pathetic Charter (CHTR - commentary - Cramer's Take) reports this week, and you can see that company eventually just going away.

If I were Comcast, I would use my strong balance sheet to take Charter out of its misery. We have all been waiting for Charter to go bankrupt. We know from Adelphia that it can, although, in that case, it was chicanery.

I think Comcast stopped its buyback so it can make a move to expand its footprint, knowing that this is the last rubber stamp Justice Department.

Keep an eye on Comcast. It is in the catbird seat. I like it, acquisition or not, as a great way to play the endless Nasdaq ramp.

At the time of publication, Cramer had no positions in the stocks mentioned.

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