Cramer's 'Mad Money' Recap: Time Warner's Time to Shine

Plus, once AT&T closes its deal with BellSouth (BLS Quote), it will have more market share, Cramer said.

While Verizon recently sold off its directory business to pay off its debt, AT&T is safer, and has less competition and more access to cash, he continued. This makes it a better telco value play than its competitors.

Moreover, even though AT&T has a lower yield (3.8%) than Verizon (4.5%) right now, Cramer said AT&T is more likely to raise its dividend in the future.

Time for Time Warner

Meanwhile, Time Warner and Comcast "are all about growth," Cramer went on to say.

"When we look at a growth stock, we use different metrics than when we look at a value stock," he said. "When you look at a company's growth, you have to see if it's accelerating."

Cramer said he picked Comcast and Time Warner as examples of growth stocks because both are cable companies, which he believes will have accelerated revenue growth next year. However, people should also take the company's profits into consideration, Cramer said.

While Comcast is the better company, is a pure play on the business and has good management, as far as profits go, Cramer said he had to stick with Time Warner.

Although Time Warner is "still pretty hated," he believes CEO Dick Parsons should turn it around. "He is making a lot of changes and making it better," Cramer said.