The first edition of the Catholic Herald magazine is arriving at parishes and homes across Britain today. The magazine features an exclusive article by Cardinal George Pell, prefect of the Vatican Secretariat for the Economy, disclosing that reformers have discovered hundreds of millions of euros that did not appear on the Holy See's balance sheet. The Catholic Herald was founded as a broadsheet newspaper in 1888. Commenting on the change to magazine format, editor Luke Coppen said: "For 126 years, the Catholic Herald newspaper has served as an authoritative guide to all things Catholic. Today, we renew our commitment to this role in our new magazine format. "With our recently relaunched website bringing you breaking news every day, the Catholic Herald magazine aims to tell you what’s really happening in the Catholic Church. We will also strive to offer you fresh, hopeful and authentically Catholic commentary on current affairs." The Catholic Herald relaunched its website last month. As well as providing Catholics with the latest news and sparky comment, the site will also feature a magazine section with content from the print edition. Selected highlights from each edition will be posted in this section of the site and will be free for all to read. In the New Year, the majority of the magazine's content will be posted each week behind a paywall. Subscribers will have full access to this content, while non-subscribers will have a generous number of free monthly views. The website's web-only news and comment posts will remain free to all. The magazine is available at an introductory price of £1.50. The price will remain until Lent 2015, after it will rise to £2. The Catholic Herald is offering new UK subscribers 12 issues for £12. New subscribers elsewhere in the EU can receive the 12 issues for £18. Those living outside Europe can receive the 12 issues for £24.