You don't just get free back catalogue if you buy someone else. Residual agreements often force you to sell to the highest bidder regardless, there are hosts of

You don't just get free back catalogue if you buy someone else. Residual agreements often force you to sell to the highest bidder regardless, there are hosts of pre-existing deals for multiple years, and your shareholders will ask why you paid so much money for a company and then took away the way they make revenue (selling the shows to other people).