Paul Messenger

The international uncertainties of 2003 have not been kind to the specialist hi-fi sector, and are probably a key factor in this week's shock announcement. In a statement that sounds depressingly valedictory, the press release (reproduced in full below) baldly states: "TAG McLaren Audio ceases development of new products and commences a full strategic review of its participation in the audio market," before signing off with, "TAG McLaren Audio would like to thank everybody for their kind support over the years."

It's been no secret that leading British speaker brand Mission was up for sale—the situation had been spelled out last fall in the Annual Report of parent company NXT plc. NXT is busy pioneering its new flat-panel speaker technology, and shareholder interests were clearly not being well served by "carrying" for any length of time a box-speaker brand whose recent financial reports had been mostly in the red.

John Atkinson's and my collective response was "Good grief!" on hearing that the UK's Haymarket Magazines had purchased Gramophone Publications. Minds boggled at the very idea of the venerable old lady of classical-music criticism getting into bed with the much younger, altogether brasher, and unashamedly populist What Hi-Fi?, market leader among UK hi-fi mags. As Haymarket enigmatically put it, "With its emphasis on in-depth reviewing, Gramophone itself has great synergy with other titles in the Haymarket portfolio, such as What Hi-Fi? magazine."

The final piece of the TGI/Mordaunt-Short/Epos jigsaw puzzle (see previous story) seems to have fallen into place, with the news that Mike Creek (of the UK's Creek Audio) is purchasing the Epos loudspeaker brand, effective March 1.