"Niche, high-end cable is making money," Cramer said. He pointed out that he featured the stock on "Mad Money" for Green Week. He called Discovery a "niche business," that is "very difficult to understand." He said he liked that the company's advertising revenue has held up nicely.
Cramer was less bullish on
. He said that the company's radio segment is "in just some sort of spiral downward." He said the company might do well to buy a cable channel. "Dividend boosts have not worked," he said. "We want to see growth. ... CBS feels like a wasting asset to me."
Cramer took a moment to discuss a
New York Times
World Wrestling Entertainment
. Cramer said the piece claimed the McMahon family, which controls the company, offered a dividend boost to themselves. He said the assertion was incorrect, and pointed out that WWE is another example of "niched cable that is making so much money."
In food, Cramer praised
for yesterday's conference call. He urged viewers to read the company's comments about ethanol policy, which are "right from the heart," he said. "It's a remarkable conference call. ... The truth is so stark on ethanol."
At the time of publication, Cramer was long Discovery Holding.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click
here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click
here to order his book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.