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Morris Mark has confidence in media companies

The download page for Tencent Holdings' WeChat application
Brent Lewin | Bloomberg | Getty Images

Morris Mark, president of Mark Asset Management, is telling investors to buy into media companies, specifically China's Tencent.

"It's a huge capitalization, it's a huge company. They control the world's second-largest social network, which is WeChat, and they are essentially the game channel for China," Mark said on CNBC's "Squawk Alley." "They get an average of about 45 minutes of user time in China every day."

Mark also said investors should look toward broadband companies, because they've become a "valuable service" by tying Wi-Fi systems to broadband. He said that anything that users want to watch over the internet requires broadband.

"Both Charter and Comcast have been gaining shares of TV viewership, even as TV viewership declines," Mark mentioned.

He said that broadband companies have very high profit margins, which enable them to sell double and triple packages.

Mark warned about investing in content providers because of declining viewership.

"We loved Disney as a company. We had it, we owned it, at some point we may go back to it, but they have a problem of declining viewership in their core channels," Mark said. "We really want to see them get into skinny bundles, so they can moderate that rate of decline."