There's a difference between buying a media property to try to sell more content(/advertising) into its subscriberbase(/userbase), vs keeping it as a going conc

There's a difference between buying a media property to try to sell more content(/advertising) into its subscriberbase(/userbase), vs keeping it as a going concern. Or sometimes, companies acquire into newer markets to try to boost their valuations based on P/E ratio. AOL-Time-Warner (1998) and then AOL-Time-Warner-Netscape (2001) spring to mind. Although those were all pre-Enron, pre-SarbOx valuations.