CBS (CBS) CEO Leslie Moonves has been at the helm for almost 20 years and TheStreet's Jim Cramer says investors don't have to worry about him doing something that would hurt shareholders.

Moonves is "terrific," Cramer, the co-manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange Tuesday.

At the center of everything is Viacom (VIAB) , which is a spinoff from CBS dating back to 2005. However, some "continue to pressure the company into a merger that would see it reunite with CBS."

Investors will be looking for clarity from Viacom when it reports earnings on Wednesday before the open.

If the deal is accretive to CBS, then Moonves will most certainly consider it, Cramer said. But if it's not good for shareholders, he will be against it. That's the way he is.

For that, shareholders can sleep a little bit better at night. CBS is a stock that Cramer likes too.

At the time of publication, Cramer's Action Alerts PLUS had no position in the companies mentioned.

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