Board Thread:The Panopticon/@comment-4029158-20130210215122/@comment-26975268-20130211171449

Agreed. But the visual also shows us the Doctor disappearing in the same way. Bright light; it seems everyone disappeared. But then the Doctor woke up and was surprised that he was still there. It's quite possible that the same happened with the Master, and he just escaped before the Doctor woke up. But, still, if you think about it, he was one of the links holding them there. He was more linked to them than the Doctor. This was said explicitly when the Doctor could have sent them back by shooting the Master. He was the connection. So, yes, it is greatly implied that the Master shared the same fate. But the reality is: in-universe, the Master's disappearance isn't even mentioned. All we do know for sure is that the Master attacked Rassilon, broke the link, and there was a bright light. Everything in between the bright light and the Doctor waking up is completely unknown.