The "Fast Money" traders weighed media stocks amid continued concerns about cord-cutting.

Disney shares are going to either "break down or break out" soon, said trader Steve Grasso. He explained that the stock has been stuck in the $90 to $100 range. If the stock can break out past the $100 level, Grasso said there could be better days ahead.

But that's exactly the reason why trader Brian Kelly said he is concerned about the stock. He said it might be best to range trade Disney shares.

Trader Tim Seymour said he prefers value stocks in the sector like CBS and Viacom.

Disclosures:

TIM SEYMOUR

Tim Seymour is long ABX, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM and short: EEM, SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM.

KAREN FINERMAN

Karen Finerman is long AAL, BAC, BAC short calls, C, DAL, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Finerman is on the board of GrafTech International.

BRIAN KELLY

Brian Kelly is long Bitcoin, GDX, SLV.

STEVE GRASSO

Steve Grasso's firm is long: VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF. Grasso is long: BA, CC, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, T, TWTR. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No shorts.