• CNBC's Jim Cramer on Wednesday pointed to three media stocks poised to do well as the presidential race tightens: Fox, The New York Times and Nexstar.
• "As much as I really do loathe talking politics on the show, I think the suddenly close election gives you an opportunity to try to profit from some of the media stocks that are about to be inundated with both viewers and political ad dollars," he said.

CNBC's Jim Cramer on Wednesday pointed to three media stocks poised to do well in what now promises to be a tight presidential race: Fox, The New York Times and Nexstar.

"As much as I really do loathe talking politics on the show, I think the suddenly close election gives you an opportunity to try to profit from some of the media stocks that are about to be inundated with both viewers and political ad dollars," he said.

To Cramer, a lot of Fox's growth potential comes from its live programming, specifically sports and news, noting the extensive deals with the NFL and college football. Fox News is also likely to bring in a substantial number of viewers in the months leading up to the November vote, he added.

Cramer also recommended The New York Times, saying a close election or a win by Donald Trump would boost the stock. He suggested the former president drove more news engagement and helped boost the Times' subscriber growth. Shares of the media company rallied more than 338% from Election Day in 2016 to President Joe Biden's inauguration in 2021, according to FactSet.

Nexstar could also benefit from a close election, Cramer said, but with the caveat that the company is "more of a trade than an investment."

Nexstar is home to many local TV stations that can bring in substantial advertising revenue as candidates and super PACs shell out for commercials over the next three months — especially because it owns many stations in battleground states.

To Cramer, the company is small enough that the "influx of ad dollars has the potential to move the needle." Post-election, however, he said Nexstar will continue to face challenges plaguing many traditional TV companies.

"When you look at the polling, suddenly we've got a close race," Cramer said. "Putting aside the polling, what really matters are the expectations, because Wall Street's an expectations machine."

Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.

Disclaimer

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com