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".
