AT&T's (T) - Get Report bid for Time Warner (TWX) is an expensive way for the telecom company to stay relevant, according to TheStreet's Jim Cramer. He says AT&T is competing against other companies for content, like Google (GOOGL) - Get Report and Facebook (FB) - Get Report . Cramer says in the current environment, he's not sure the merger will win regulatory approval. Cramer says he would sell shares of both companies. Both stocks did retreat early Monday, the first day to trade the shares following the weekend announcement that AT&T had bid over $85 billion for Time Warner.