In The Know will target BC1/C2 women and will be published on Tuesdays with a £1 cover price. Bauer has told the market the magazine will be "topical and relevant".
The debut issue, out on 29 August, will have a print run of 900,000 and the first two editions will be price-promoted.
In The Know is Bauer's first mass-market title since its ill-fated men's weekly Cut two years ago, which lasted just five months. It is also its first women's magazine since launching That's Life in 1995.
Bauer set up a research and development team to lead new projects two years ago, but its only launches to date have been puzzle magazines.
News Magazines' third launch, codenamed Project Dannii, which is due in the New Year, is expected to compete for the same readers.
This week's ABCs for January to June will show that Closer overtook OK! to become the UK's biggest-selling celebrity magazine for the first time.
The total market for established real-life magazines is expected to feel the affect of newcomers in the period, as recent launches, News Magazines' Love It! and ACP-NatMag's Real People, are attracting younger readers.
Bauer's traditional women's titles, Take A Break, That's Life and Bella, all lost sales in the period and David Goodchild, Bauer's MD, hinted that he would follow IPC's recent relaunch of Woman with some changes to his portfolio.
"These brands are as strong as they are weak and what we have to address is how to adapt to the market," he said. "With Bella in particular, we have to address the image issue or else we're not going to attract new readers."
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