Trinity Mirror to launch new cut-price tabloid
The publisher of the Daily Mirror is set to unveil a new cut-price tabloid newspaper this month, according to reports - just days after The Independent announced the closure of its print operations.
Newsline understands that New Day will launch on 29 February for an initial 20p cover price - the same price that the i, which was last week bought by Johnston Press for £24m, first launched with back in 2010. However, the price is expected to increase depending on reader demand.
The news comes following ESI Media's decision to terminate The Independent and Independent on Sunday newspapers and move them wholly online - the first national newspapers to do so.
ESI Media CEO, Steve Auckland, confirmed on Friday there will be redundancies among editorial staff as a result of the move, estimated at around 100, while 50 i staff are expected to move over to new owner Johnston Press.
The weekday and weekend editions of the Indy currently sell around 150,000 copies between them each week, while the Mirror and Sunday Mirror succeed 1.5m. Meanwhile, the i sells around 268,500 copies.
A source briefed by Trinity Mirror told the Guardian that New Day will aim for a 'Mail and Express-type audience', but that it is not looking to take the i's market.
"A sort of everything for everyone paper in the mid-market rather than a direct attempt at entering the quality market like i," the source said. "I don't think you could say it is an attempt to take the market of i."
It is thought that New Day will launch with a print run of 1m; however, like its cover price, will depend on consumer demand.