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Some announcements are almost uncannily perfect in their timing.
Rarely has this been more true than Bertlesmann's confirmation last Thursday that it was selling its BMG publishing operation--announced as lounge suits were being buttoned and shoes polished for the publishing industry's annual Ivor Novellos beano.
It was an announcement which sparked plenty of debate--who will make the move, what is the price tag, how will it affect those working with and for the company?
One of the key issues which drives the discussion, in this case, is the fact that, in taking this step, Bertelsmann is taking the industry into previously uncharted waters.
Rarely, if ever, has a publishing business of such scale been put onto the market. Large catalogues are bought and sold all the time, but not such a massive, ongoing publishing operation.
It is also--in the UK, at least--a company which has been on top of its game in recent years, signing and developing some of our biggest talents, including Robbie Williams, Keane and Coldplay.
All of which makes it all the more difficult to assess what value will be attributed to Nick Firth's company, or who will be drawn to make the biggest bid. The margins in ...