The magazine, which initially will be bi-monthly, follows the closure of Ministry magazine at the beginning of this year after its sales sunk below 50,000.
Trash is to be edited by Rachel Newsome, former editor of Dazed and Confused magazine, and is described by Newsome in press reports as a cross between a "pop Vanity Fair and a grown-up Smash Hits". It is expected to be like an upmarket Heat.
Conde Nast, which has been appointed to publish the magazine on behalf of Ministry, is aiming for sales of at least 100,000. The magazine will be targeted at a wide audience, with 20% of sales expected to come from overseas.
Ministry was closed following an overhaul at club owner and youth culture brand Ministry of Sound, when it came under pressure from investors to cut costs.
The club owner announced at the time it planned to launch a title that would "revolutionise the media market" and "unify global youth culture in a ground-breaking format", according to a statement issued at the time.
The shake-up saw its magazine division close and the group turn its focus to youth culture and music compilations. It was also followed by the exit of chief executive of media Rebecca Miskin, who was replaced by marketing director Mark Rodoll in March.
Conde Nast was appointed at the beginning of the year, after Ministry axed its publishing division. The deal sees Conde Nast venture into new territory. The publisher does not yet produce a celebrity title, but is better known for upmarket glossies such as Vogue, Tatler, Vanity Fair, GQ and Glamour.
The decision to appoint Conde Nast is believed to have been taken because the publisher secures large advertising deals across its titles.
It has been reported that 80% of the magazine's advertising space has already been sold.
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