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"Media Only" can mean that you're buying a copy of the program that does NOT include a license.

In corporate settings, it's not uncommon to buy 10, or 100, or ten thousand licenses. Obviously if you buy a huge number of licenses for an app, you don't actually want or need that many boxes with installation discs in them.

So for those customers, big software publishers make licenses and media available as separate SKUs. So you can buy, say, a thousand licenses, but only 1 copy of the install disc.
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