TOTP fades out with a whimper.

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Just as one attempt at consolidation bows out, another raised its head.

In the week when both Warner and EMI indicated that they were planning to take their takeover plans no further (for the meantime), a takeover was mooted deep in the heart of the independent sector.

As quickly as Mama Group - parent of the management to venues, via magazine publishing company Channelfly - revealed its designs on Sanctuary Group, the object of its desires sent out a pretty clear message. It feels like EMI-Warner all over again.

It remains to be seen whether Mama come back with a hostile bid. But the move does raise the spectre of a new kind of market power.

Besides the potential for a company with ownership of both booking agents and venues - which some will see as a potential conflict, especially to a venue in the same town as a Barfly, for instance - such a move would take Sanctuary founder Andy Taylor's ambitions to their logical conclusion.

Such a group would be able to create a new model for the music business. Now that's what you call 360 degrees.