Why Jim Cramer Says Buy Time Warner (TWX) Despite Fox's (FOXA) Actions

NEW YORK (TheStreet) -- TheStreet's Jim Cramer asks if Twenty-First Century Fox  (FOXA) would come back to Time Warner  (TWX) and notes Rupert Murdoch's company said repeatedly on its conference call that it would not.

Cramer says investors own Fox because of earnings, specifically in cable and film. He thinks the stock is terrific but notes it just moved 10%, and he never tells people to buy a stock after it rises 10%.

He would, however, like to buy Time Warner down 10% because he thinks CEO Jeffrey Bewkes will get the stock back to where it was, though Cramer says this could take 18 months to two years.

Must Watch: Jim Cramer: Buy Time Warner When it Drops Even if Fox Will Not

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TheStreet Ratings team agrees, as it rates Time Warner as 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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