Master Page Inheritance in Site Collections
The preceding section discussed deploying master pages to SharePoint sites and site collections and discussed relevance of master page availability depending on where you deploy master pages. This section expands further on master page deployment by discussing master page inheritance throughout site collections. As already mentioned, master pages, like other objects throughout SharePoint Server 2010 site collections, are inherited from the parent. If a master page is saved to the Master Page Gallery where the publishing Feature is enabled on the site collection, then that master page is available to all subsites.
Once again, the main difference in terms of how you actually choose to inherit master pages ...
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