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Jim Cramer: AT&T's Core Business Is Losing

Jim Cramer believes AT&T's core business is losing ground and that's why it is going shopping.
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AT&T's (T) - Get Report core business faces challenges, according to TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer. "AT&T needs to do something because their core business is losing," Cramer says, adding that he thinks AT&T owned DirecTV is also facing headwinds amid a peak in NFL ratings. AT&T agreed to an $85.4 billion acquisition of Time Warner (TWX) , a content giant that owns iconic media assets such as HBO, CNN, TBS and TNT. The deal must be approved by regulators.

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