Rupert Murdoch, Fox: Buy Madison Square Garden and N.Y. Yankees

NEW YORK ( TheStreet) -- With so much uncertainty in the stock market, it's nice to have a relatively stable area where investors can take long-term cover.

Lately, it's been dividend stocks. Now, we're told that run is over. I don't buy it. It's rarely, if ever, a bad time to make regular purchases of dividend payers, particularly in growth stocks. In fact, most investors should probably use the strategy as a major portfolio foundation.

That said, speaking directly to sectors, there's probably not a space with better visibility and relative certainty than media.

There are incredible existing and potential synergies between big media and empire building, particularly in sports programming and franchises.

I have hammered it pretty hard: Buy big media stocks because/if they:
  • Control key 'appointment viewing'-type content, such as live sports programming;
  • Have a clear path to grow revenue by expanding that empire.

Search my article history. You'll find loads of support for buying names such as Canada's Rogers Communications ( RCI) and BCE ( BCE) to less-monopoly prone, but equally as attractive, American giants like Time Warner ( TWX) and Disney ( DIS).

One of my more recent pieces -- Something All Investors Must Do During Earnings Season -- uses media company earnings conference calls to articulate why these stocks should continue to be such strong buys.

As the above-linked article indicates, through all of this excitement, News Corp ( NWSA), set to spin off its struggling publishing division next year, emerges as the cream of the crop.

Rupert Murdoch, love him or disagree vehemently with 80% of his Tweets, continues to build out a powerful cable and sports empire: Fox, which includes Fox News and the Fox Sports Regional Networks. A competitor in the works to take on Disney's ESPN. The list goes on and on. News Corp is not only nationwide; it's global, claiming turf obviously in the U.K., and in places such as India.

We received word last night, via The New York Times, that News Corp will purchase a 40% stake in YES, that's Yankees Entertainment and Sports, co-owned by the Steinbrenner family, Goldman Sachs ( GS) and others.

At the same time, News Corp is looking to snag rights to Los Angeles Dodgers baseball.

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