I currently run a rather large site in a competitive market. I am interested in breaking the site out into more niche sites. Problem is, I don't want to have to "rewrite" all of the pertanent content but at the same time don't want to get penalized by Google for duplicate content. I can't just drop the pages as they rank well right now and I cannot afford to loose the traffic.
Any suggestions on the correct path to take would be useful including, but not limited to, how Google determines "duplicate" content.