CambridgeFirst debuted yesterday (27 May) and will be sold in more than 90 newsagents, with a cover price of 40p and a money-off voucher inside.
Identical free copies will be distributed by hand at high footfall locations and from pick-up bins.
A spokesman from Archant declined to comment on what circulation the title was aiming to achieve. Its nearest competitor is the Cambridge News and Crier, published by Cambridge Newspapers.
The new title has a website at CambridgeFirst.co.uk, as well as a mobile site.
Archant believes the launch of CambridgeFirst points the way towards the future for local newspapers, with its multi-platform and multiple routes-to-market approach.
Adrian Jeakings, chief executive of Archant, said: "We are a progressive community media company, and this is our chance to put many of our innovative theories and ideas into practice in a location which, it is well-proven, welcomes such things."
He added: "We believe this print, web and multiple routes-to-market approach for each strand of the brand is absolutely the way forward. It's a first – another CambridgeFirst."
Archant has recruited a local sales team and a new editorial staff for the new brand, which will be based in Cambridge, with Archant magazines Agenda and Explorer.
The national sales for all Archant titles are handled by regional sales house Clacksons.