Why Jim Cramer Says Friday Is The Day to Buy Time Warner (TWX) Stock

NEW YORK (TheStreet) -- TheStreet's Jim Cramer asks what happens to Time Warner  (TWX) now that Twenty-First Century Fox  (FOXA) has withdrawn its takeover bid for the company.

Cramer notes Time Warner never invoked antitrust concerns as it fought the Fox deal, and he theorizes that Time Warner might now make a deal of its own. He says he would not be shocked if Time Warner struck a deal with CBS  (CBS) or Viacom  (VIAB) down the road because media consolidation "is still very much the theme." He does not, however, think Fox will come back into the picture.

Cramer says Time Warner CEO Jeffrey Bewkes is a buy because he has done a lot of things to right the company. Cramer suggests investors let others get out of the stock and that a big down day Wednesday means those sellers will be back Thursday. Therefore, Cramer says Friday is the day to start to buy Time Warner.

Must Watch: Jim Cramer: Start Buying Time Warner This Friday After Today's Drop

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TheStreet Ratings team agrees, as it rates Time Warner a "buy" with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate TIME WARNER INC (TWX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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