Tom Moloney has quit Emap.
All I can say, as a former Emap NUJ FOC, is it couldn't happen to a nicer fellow.
More details about his going here and here.
And maybe that clever division of the company which he oversaw in his early days wasn't quite as clever after all, given the revived speculation about a takeover. Although shareholders such as myself will enjoy the rise in share prices which this causes. But then doubtless Mr Moloney is pretty well off for shares too.
ADDENDUM: See the Magforum blog entry for a much more grown-up and informative take on this story.