When it comes to mergers, it's not always clear who wins. But in the case of the potential Disney-Fox tie-up, CNBC's Jim Cramer had a pretty clear idea of who might.
"Disney would be buying the non-sports non-news part of the business, creating an unprecedented level of scale that would make them the king of the entertainment forest," the "Mad Money" host said. "Just like Broadcom trying to buy Qualcomm, a Disney-Fox deal would make it so there would be less concentration on one product — in this case ESPN — and more on the entire panoply of entertainment assets. Put simply, Fox is worth more to Disney than to Wall Street, but you, the shareholders are the ultimate winners."