Time Warner

(TWX)

and

New York Times

(NYT) - Get Report

are both media starting to make some positive changes, Jim Cramer said on his

"RealMoney" radio show Wednesday.

Time Warner is selling off 18 of its "not-so-successful magazines," while the Times is planning on selling off its TV stations, in an effort to "re-energize its core newspaper business as well as its digital content," Cramer said.

As both of these large companies realize "they need to tend to their core product in order to survive," maybe it's time to start buying Time Warner and stop shorting the New York Times, he said.

Since oil stocks have been falling people think that it must be a good time to buy them, Cramer said. While Cramer believes in the principle of selling strength and buying weakness, he said people must understand that the "momentum has turned against oil."

It is going from $65 to $60, he predicted, while adding that if it goes up, people should think of it as an opportunity to lighten up on oil stocks.

There are three changes which "have tipped the balance to lower oil prices," Cramer said. First, "a barrier of sorts was reached on gasoline prices," where, at $3-plus, gasoline wasn't selling as much as it does at a lower price, he said.

Second, OPEC is planning to pump more oil.

And finally, there is no geopolitical threat right now, Cramer said.

Answering one of his frequently asked questions, Cramer told listeners that a hedge fund is not like a mutual fund. In a mutual fund, people give their money to an adviser, which generally takes a certain profit, and loses less money in bad times and makes people money in good times, he explained.

"A hedge fund does not work on the same mantra," Cramer said.

Hedge funds make people money in both good times and bad and are very flexible in regard to what they can invest in, he said.

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.

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. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest 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

clicking here.

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.