Once hailed as an economic oracle, the only man in Christendom to have foreseen the financial meltdown, and considered so invaluable to his party's fortunes that he appeared almost surgically attached to Liberal Democrat leader Nick Clegg, it's difficult not to notice that Vince Cable looks a bit out of sorts these days.
Having been quickly dumped by his former beau when Clegg succumbed to the charms of David Cameron, Cable has lost his avuncular charm and status as a guru. Instead, he sits, squashed, next to Ken Clarke, seeming rather out of place on the coalition's front bench.
It's no wonder he looks so grumpy. Here is a man who has not only lost the devotion of his former sweetheart to someone he patently does not trust, but also been made to come and watch him flirt and giggle with the younger model. To add to the insult, the consolation prize he has been given to soften the blow - the Department for Business, Innovation and Skills - is a pill that has lost much of its sugar coating, having been the main victim of the government's initial round of cuts.
Then along comes someone who might, just might, allow him to exercise his former influence and bring a smile back to his face - Rupert Murdoch. Cable must surely be hoping that an encounter with the Lib Dem-baiting media mogul will allow him to raise his public profile to its former level and act in the best traditions of liberalism, something he so publicly espouses, as well as possibly exact some measure of revenge on his interloper.
The decision by News Corporation, of which Murdoch is chairman, to issue a £12bn takeover bid for the 61% of shares that it does not own in BSkyB has come as little surprise to the City. Indeed, given that News Corp already has effective control of the company through a majority of voting rights, it has long been treated by regulators - and frequently denigrated by critics - as a 'Murdoch company'.
It is also no surprise that Murdoch wants to take complete control of BSkyB, which is expected to post a rise in profits from £638m to £1.1bn over the next two years. After all, he was reluctant to offload shares early on, when its start-up costs nearly proved paralysing to News Corp. Indeed, given that Murdoch bore so many of the risks in pioneering digital TV in the UK, some may think it only right he now looks to reap some of its rewards.
More crucial, however, is that News Corp is all too aware of the dangers of being overexposed to the vagaries of the advertising market, a failing for which its competitors have paid heavily.
A diversified revenue stream is a far more attractive option, and with News Corp the prime mover in the bid to introduce paywalls to newspapers' websites, who would bet against Murdoch including complimentary access to The Times or Sun online as part of a Sky subscription package? After all, it offers a very attractive broadband service as part of its triple-play package and News Corp is well ahead of the curve in the transition from print to digital.
With no other bidders, a sympathetic Sky board (which has rejected the initial bid, but suggested an alternative figure) and a regulator that has been told to focus on technicalities rather than policy, what could possibly go wrong?
Well, standing in the wings is Cable, who just might want to kick up a fuss and play the 'public interest' card and argue that a full acquisition would threaten media plurality. That would put him back centre-stage in a drawn-out battle that could derail Murdoch's plans, as well as proving an embarrassment to Cameron.
- Jeremy Lee is associate editor of Marketing. Read his blog at marketingmagazine.co.uk
30 SECONDS ON ... VINCE CABLE MP
- Vince Cable was born in 1943 in York. He read natural science and economics at Cambridge University, followed by a PhD at Glasgow.
- His varied career has included stints as treasury finance officer for the Kenya government (1966-68), deputy director of the Overseas Development Institute, and special adviser on economic affairs to the Commonwealth secretary-general (1983-90). Cable joined Shell International in 1990, becoming chief economist in 1995.
- In politics, he served as a Labour councillor in Glasgow in the early 70s, later joining the Social Democratic Party. He entered Parliament as Lib Dem MP for Twickenham in 1997. He was Lib Dem Shadow Chancellor from 2003-10 and deputy leader of the party from 2006 to 26 May this year. He has been Secretary of State, Business, Innovation and Skills since 12 May.
- Cable, who wears wedding rings from both his marriages (his first wife died in 2001), is a keen ballroom dancer who said it is his serious ambition to win Strictly Come Dancing.