The distinction between Murphy and Paley's approaches lay in their goals: Murphy aimed to enhance his company's value, while Paley sought to expand CBS's size. Contrary to Murphy's peers in other media firms who tended to diversify into unrelated businesses, Murphy's strategy stood out for its focus.
Roll-ups, a form of acquisition, involve a company acquiring a series of businesses, improving operations, and continuing to acquire more, benefiting from scale advantages and effective management practices over time. This concept gained popularity in the late 1990s but waned in the early 2000s due to excessive debt leading to the collapse of prominent companies.
