The first issue of the free title runs to 78 pages and with its heavy focus on listings interspersed with features, is similar to its previous incarnation as a paid-for title, priced at £3.25.
Today's issue features an interview with 'Satanic Verses' author Salman Rushdie and a feature on the best free things to do in London.
Media buyers have, for the most part, been optimistic about the title's potential and have given today's issue a thumbs-up, acknowledging the big-brand advertising it has been able to attract.
Rob Lynam, head of press at WPP-owned MEC, said: "Time Out was a fantastic magazine before, and looking at today's issue, I don't think they have ruined it – in fact it hasn't changed dramatically, but now the magazine is able to deliver scale.
"I think it looks good, the paper quality is fine and similar to ShortList magazine. It has also attracted similar advertising to what it attracted as a paid title."Follow @nickbatten2