Cramer: AT&T-Time Warner Decision A 'Huge Positive' For Overall Market

A federal judge's approval Tuesday of AT&T Inc. T's proposed acquisition Time Warner Inc TWX should be viewed as "a huge positive" for not only media companies but the overall market, according to CNBC's Jim Cramer.

What Happened

One of the biggest takeaways from Tuesday's court ruling is that there are no strings attached to AT&T's proposed acquisition, Cramer said during his daily "Mad Money" show. The "pro-merger" decision could now pave the way for consolidation activity in the media sector, Cramer said. 

Why It's Important

Comcast Corporation CMCSA's potential bid for some of Twenty-First Century Fox Inc FOXA's media assets is now one step closer to occurring Cramer said. Comcast may be entering into a bidding war with Walt Disney Co DIS, which would explain why Comcast's stock declined immediately following the court ruling while Fox's stock moved higher, he said. 

What's Next

Perhaps the bigger takeaway from Tuesday's court decision is the decision to allow AT&T and Time Warner to merge will "help a whole host of industries that are thinking of consolidating," Cramer said, giving the example of Cigna Corporation CI acquiring Express Scripts Holding Co ESRX.

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