Amid a report in The Wall Street Journal about Facebook's (FB) plans to spend some $1 billion on original content, TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said this is another reason to own the stock.

"It remains a core position for Action Alerts PLUS," Cramer said.

Facebook shares are up 51% since the start of the year. 

Watch all of Jim Cramer's latest videos, right here:

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