Nick Cutler the Managing director of Derwent Howard has quit only days after announcing that the Company was set to launch a new technology magazine for Dick Smith. Also quitting the Company is one of the founders Nathan Berkley.
Late last month we revealed how Flynn had moved into the porn business with a new magazine and web site promoting online porn sites and escorts.
According to Flynn Nathan Berkley travelled to Spain because of illness in his family. He failed to return, leaving business partner Jim Flynn to run the business. In recent months Flynn has registered several new media Companies with new ventures
The Sexy.Net magazine launched by Flynn lists all sorts of perversion as well as the sale of sex toys and adult DVD’s. This property is owned by a Company called S&D Pty Ltd.
Flynn is also the sole director of another new Company called Media Factory Pty Ltd which now includes former Derwent Howard titles Ultimate Nintendo, Australian 360, Ultimate Guides and Australian Official PlayStation Magazine.
Speculation is mounting re the future of Derwent Howard that is believed to have substantial debt. Flynn has not returned calls to 4Square Media.
In 2008 Leading British publisher Future Publishing took several titles away from Derwent Howard including T3 and the official Windows Magazine. In recent months they have also lost F1 Racing Magazine. This has returned to Haymarket the original UK publishers of the magazine.
“It’s a fairly major upheaval when a director leaves and the managing director resigns. It’s not ideal from a business perspective.” Flynn told the Australian newspaper.
Last week Flynn registered another business name, Citrus Media.