The 68-page magazine is the third magazine supplement to be launched by The Observer, and follows the existing Observer Sport Monthly and Observer Food Monthly magazines.
The Observer has not confirmed a launch date but Mother has been enlisted to create an ad campaign for the launch.
Caspar Llewellyn Smith, the assistant editor of The Telegraph Magazine and a former editor of The Daily Telegraph's Saturday Arts and Books section, is joining The Observer to edit OMM.
He said: "The magazine will provide a great opportunity to review the way music is covered in the print media."
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