Well... I hate to burst your bubble but it was confirmed by a Dev in an interview that Malgus is toast. They did however hint that he did have an apprentice and this apprentice might not be too happy about us killing their master.
EDIT: Link for the inevitable request -> http://torwars.com/2012/08/22/torwar...res-hall-hood/
The Malgus part is towards the end of the interview