The new magazine, Business F1, has run into trouble even before its first issue is on the shelf. The title has been denied press accreditation by F1 authorities, prompting Rubython to take legal action.
The launch comes as Ecclestone relaunches Formula 1 Magazine for the start of the F1 season with a shift in focus under new editor Matt Franey.
Rubython suddenly departed Formula 1 Magazine in November and no reason was given for this exit.
Ecclestone launched the magazine in early 2001 out of his EuroBusiness publishing stable, in which he has a majority stake. Rubython, the founder of Business Age and the brain behind EuroBusiness, oversaw the launch of the title, which is a direct competitor to Haymarket's F1 Racing.
At the time, Rubython said: "It's a magazine Bernie has always wanted to launch. The motorsport market has grown faster than F1 Racing's circulation. This is not a challenge to Haymarket, it is about expanding the market. Bernie will take a backseat role -- we will be completely independent."
It is unclear if there is space in the market for a third F1 magazine and particularly one with a business bent at a time when the sport is struggling. Rubython has said he believes there is room as the other magazines in the sector were consumer-focused.
Formula 1 claims to be selling 100,000 copies a month. It is due to report its debut ABC in August while F1 Racing recorded a UK ABC for the July to December 2002 period of 78,251, a year-on-year drop of 20.2%, reflecting the bad year that the sport has undergone.
It is understood that Rubython is investing £200,000 into the launch and has a small editorial team on board. He claims the magazine will have a global distribution of around 8,000, according to the Press Gazette.
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