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It has since narrowed its collecting mission to American art of the 19th through the 21st centuries, and without acquisition funds has managed to assemble a collection of some 2,000 objects, largely through donations.
"Although we're not satisfied with our volume growth, it is worth noting that it was all generated without acquisition," Steven S. Reinemund, PepsiCo's chairman and chief executive, said, alluding to the Coca-Cola Company, which reported Wednesday that much of its volume increases in the first quarter had come from acquisitions.
While Zaslav did not rule out taking a look at Richard Desmond's Channel 5, which with six UK terrestrial channels provides the potential to restructure into a mix of free and pay-TV service, he said that the UK business had a "strong growth trajectory without acquisition".
Without acquisition potential to rescue it, Quora must climb monetization mountain.
An OTT streaming startup doesn't just need exposure if it wants to survive without acquisition, either — it also has to find a way to do something that Netflix, Amazon, Hulu and dozens of other legacy media players aren't already doing.
"We are basically a full publishing house but without acquisition editors," says Albazaz. "Inkitt is about author equality not about what you have done before or the network you have.
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"You are not going to see growth of 20percentt a year without acquisitions".
High single-digit growth, without acquisitions, would be impressive over the long term.
This would result in a drop in sales of about 4percentt in the second half, without acquisitions, he said.
Ryland intends to stick with this strategy, said R. Chad Dreier, the company's chief executive, who added it could grow significantly without acquisitions.
In an interview on the sidelines of VTB's "Russia Calling" conference here, Mr. Yakovitsky said VTB Capital was not interested in buying assets that larger European rivals were selling and that the bank preferred to grow without acquisitions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com