The Grantham Target will be the latest edition to LW’s Target series in Lincolnshire which already includes titles in Sleaford, Boston and East Lindsey.
The new paper will be priced at 50p compared to established JP weekly the Grantham Journal which has a cover price of 95p.
He said: “We know that readers in Lincolnshire value the content and range of advertising in the Target Series, and at 50p it’s fantastic value for money.”
“Until recently, the Target Series was part-free, part-paid. We’ve taken all the frees out of the market and the paid-for circulation has grown very well.”
The new title will launch on 7 January with a companion website due to go live in December. A Twitter feed @GranthamTarget has already gone live.
It will be edited by Adam Moss, who joined Lincolnshire Media from the Nottingham Post in 2012 and already edits the Sleaford and Boston Targets.
He said: “The Targets are a well-known brand in large parts of Lincolnshire and we feel Grantham is the ideal place to go into next. It’s a very newsy area, with a real mix of residents.
“I’m looking forward to getting stuck in and making sure we give a voice to communities, individuals, and special interest groups across Grantham.”
The move has already won the backing of Tory MP Nick Boles who represents Grantham and Stamford in Parliament.
He said: “Grantham is a place where lots is happening and the very welcome launch of Grantham Target just confirms it.
“As the town grows and seizes new opportunities there will be plenty for a new weekly newspaper to cover. I look forward to working with Adam Moss and his team.”
According to the most recent ABC figures, the paid-for editions of the Target series in Boston and Sleaford had a combined circulation of 12,464. The East Lindsey edition had a free distribution of 11,068 but has since gone paid-for.
The Grantham Journal last published an audited circulation figure in 2o13 when its average weekly sale was 14,072.