Marcus Webb will edit Delayed Gratification, which will publish quarterly from January. The title is the first launch by the Slow Journalism Company headed by Webb and director Rob Orchard, who met Webb while working in Dubai as a writer eight years ago.
The magazine describes itself as "an antidote to throwaway media" with the tagline 'Last to breaking news' and wants to be a collectible for readers. It will cover politics, culture, science and sport through a combination of essays and reportage using the principles of slow journalism: "It measures news in months not minutes, returning to stories after the dust has settled."
The magazine will aim to provide new angles on big news stories of the quarter, cartoons, infographics and expert insight and reportage on major news events.
Four main editors and an art director will be supported by a roster of freelance writers and journalists, Webb told Journalism.co.uk.
The main revenue stream for the new title will be subscriptions, but Webb said the company is prepared to take "a handful of display advertising from issue two" if it fits with the aesthetics of the magazine. Subscribers will be offered discounts on the cover price of £12, home delivery and access to special offers, starting with a poster of the first edition's cover designed by American artist Shepard Fairey.
Despite launching a magazine against a background of cost-cutting and economic downturn in the wider journalism and publishing industry, Webb is confident that this is the right time to launch a new publication.
"We believe that beautiful, considered publications are the future of print. We like products that are crafted, that somebody has laboured over - and we hope to have created something that people will treasure. The internet is fantastic for getting the first word on any story, but we are interested in giving our writers time to think and our designers time to look at the best way of presenting information graphically," he said.
"The type of magazine we are hoping to create can only exist in print or on tablets such as the iPad. It has to be self-contained and enjoyed in context rather than as an information smash and grab between meetings. In terms of content, we feel that the sheer volume of news both online and off make a considered, curated quarterly almanac a very timely new product. We just hope there are enough people out there that agree."
The title's website will act as a showcase for the print edition, he added: "We have no interest - and no chance - of competing with the raft of terrific news, culture and sport websites out there. They do a great job. Our website will just be used as a shop front for the magazine, giving potential subscribers a taster of the joys of the print edition and to eventually sell the tablet version."