He has teamed up with former Emap chairman David Arculus to launch an entertainment-based consumer magazine, according to a report in the Independent on Sunday.
Hepworth, who worked on celebrity magazine Heat at its launch along with Mark Ellen, editor-in-chief of Emap Metro, is understood to be preparing to launch the title next year and may also continue to do some work for Emap.
The title will not directly compete with any current Emap titles, but its entertainment focus will likely cross over with some Emap titles.
Last year Emap closed its entertainment monthly Sky after its sales plummeted.
Hepworth worked with Arculus for a number of years before he left Emap following a disagreement over succession in February 1997.
Arculus went briefly to United News & Media before becoming chairman of rival magazine publishing group IPC where he oversaw the sale to AOL Time Warner.
Arculus and Hepworth will be the second set of high-flying Emap executives to head up a rival business. Ousted Emap CEO Kevin Hand, who lost his job after Emap’s ill-fated £720m purchase of Petersen in the US, last week oversaw French media group Hachette Filipacchi’s purchase of publisher Attic Futura for around £40m.
The acquisition followed Emap's termination of its joint venture deal with Hachette, which was responsible for publishing Elle, Elle Girl, Elle Decoration, Red and New Woman.
The Elle titles will now pass to the French firm while Emap will hold on to Red and New Woman as the two go head to head.
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