

<p>Why DIS & TWX are down: Cramer</p>

<p>Shares of Disney fell in pre-market despite

better-than-expected quarterly results, after a profit decline at ESPN

was announced. CNBC's Jim Cramer and David Faber discuss the

health of media stocks Disney, Viacom and Time Warner.</p>



The lack of clarity on how to quantify an “uptick” in terms of the increased number of ESPN subscribers is hurting Disney stock, CNBC’s Jim Cramer said Wednesday.

“We don’t know what uptick means,” said Cramer on “Squawk on the Street.”

…”We’ve actually seen an uptick recently in ESPN subs. We did reference, in candor, in the August call, that we had seen some sub erosion, and that in fact was the case. But the last few months, in particular, have been encouraging,” Iger said.

…”If they said listen [subscriber growth] is X, which is much better than you think, that could have helped, but we didn’t get that,” said Cramer.