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Cramer says income-seeking investors in AT&T may want to rethink the stock after WarnerMedia deal

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A man walks with an umbrella outside of AT&T corporate headquarters on March 13, 2020 in Dallas, Texas.
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CNBC's Jim Cramer said Monday his outlook on shares of AT&T as a dividend play has changed after the telecom giant announced a deal to combine its WarnerMedia division with Discovery.

"I don't know if I want to own AT&T's stock as much as I did before this," Cramer said on "Squawk Box."

Cramer said he sees benefits of Monday's deal as it relates to AT&T's core business and allowing the company to narrow its focus against other rival network providers.

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