Cramer's 'Mad Money' Recap: Good News Corp

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The pick of the week is News Corp. (NWS Quote), Jim Cramer told viewers of his "Mad Money" TV show Monday.

This stock won't necessarily make people money this week, but Cramer is willing to put his full credibility on the line for it, he said. The stock, which virtually seems to reach a new high every day, is Rupert Murdoch's baby, he said.

"This stock is Fox and the New York Post," he said. "I believe everything about News Corp, other than print, screams that the stock should be going up."

Cramer believes the company might even be ready to join Yahoo! (YHOO Quote) and Google (GOOG Quote) in the Internet hierarchy. It can make you money, he said. Cramer owns Yahoo! for his Action Alerts PLUS charitable trust.

Last year, News Corp bought MySpace.com for $580 million. Although some people still think that was not a good move, Cramer said he believes the acquisition was a steal. People don't see how MySpace can make you money and move beyond the teenager audience, but Cramer said these people are wrong.

But this is OK because if you want to make money in the market, other people need to be wrong," he said.

MySpace's page-view growth is No. 2 after Yahoo!, he said, adding that the company is making money and has accelerated revenue growth. "To me, this is evidence that they've won this round in the media wars," he said.

News Corp could pass Emerson Radio (MSN Quote), or even Google, in the next couple of years at this trajectory, Cramer said.

MySpace is all viral growth, so they don't have to spend a dime promoting, he said. People who use it promote it to their friends.

Even if people don't want to buy it based on MySpace, Cramer advised taking a look at its Sky Italia or Fox News divisions, both of which News Corp owns and are en fuego, he said. In fact, News Corp is so right, he said he wished he owned it for his charitable trust, Action Alerts PLUS.