BREAKING NEWS: A massive split has taken place at IT publisher Derwent Howard with Karl Penn the Group Publishing Director being asked to leave the premises immediately. He is set to establish a Future Media linked company and has taken titles with him.
It is believed that Penn is set to head up a new Company that will have all the Future Media titles including T3, Official Xbox 360 Magazine, Official Microsoft Vista Magazine, T3 Magazine, and Australian Guitarist.
It is believed that Future Media is an investor in the new company.
Penn who joined Derwent Howard from Haymarket is an experienced publisher who came to Australia after Derwent Howard set up an Australian operation after acquiring assets from Penton Media and AJB Publishing.
Karl Penn said in an email “After two years at Derwent Howard, I’ve resigned from my position as Group Publishing Director, and will be leaving to head up a new operation in Sydney, and which will also involve a number of existing locally published titles including Official Xbox 360 Magazine, Official Microsoft Vista Magazine, T3 Magazine, and Australian Guitarist, and I’m sure the specific details will unravel in the next few days, and weeks, but it is linked to some of the operational announcements currently being made by Derwent Howard”.
Ranked #38 in the BRW Fast 100 in 2005 BRW at the time said “Derwent Howard has managed to carve out a successful and profitable niche…… there is no denying the speed of Derwent Howard’s emergence as a competitor in the Australian publishing sector” .
Titles listed as published by Derwent Howard include F1 racing, Guitarist Australia, Official Playstation Magazine, T3 Windows Vista, Official Xbox 360 Magazine, Creative Knittingand Creative Cardmaking.
In recent weeks Derwent Howard have picked up several new titles and the battle for them now is establish those titles quickly.
Jim Flynn a founding Director of Derwent Howard told SmartHouse News. “We have parted Company with the Future titles and we will be rolling out several new titles shortly. Future can do what they want. They are another big UK publisher coming into Australia and they will find it hard. We at this stage have not lost any staff to them and the moving is a positive one for this company”.
He added “Future have wanted to come into Australia for a long time and we have over the past 6 months had numerous discussions with them, now they are going it alone and we will move on”.
It is believed that the new Company run by Penn will be 100% owned by Future Media in the UK.