The new title is slated to launch in the new year and will target young people at the cutting edge of fashion and culture, in an attempt to attract advertising from the world's top brands.
The company has released few other details about the new venture except to say that it promises to "revolutionise the media market" and "unify global youth culture in a ground-breaking format", according to a statement.
Rebecca Miskin, CEO of Ministry of Sound Media, said: "The current title generates a substantial profit and we intend to build on this. Brand values are core to Ministry of Sound's success and our new title will redefine the publishing sector and be the ultimate representation of our brand -- watch this space."
The company said it will release further details about the launch in the near future.
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