Daily Mirror publisher 'to launch new cut-price newspaper'

Trinity Mirror is set to launch a new national newspaper at the end of the month, according to reports.

The newspaper, possibly called 'New Day', will initially cost around 20p, according to the Guardian, well below Trinity's 60p Daily Mirror.

The Financial Times said the launch of the paper is a bid to replicate the success of the i, which the Independent is to sell to Johnston Press for £24m.

Trinity Mirror declined to comment on the reports.

The price of New Day will start low, and will be raised according to reader demand, the Guardian said.

It will be pitched at a mid-market readership, the Guardian added.

Sky News reported that New Day would be launched on 29 February priced at 25p.

Newspapers have been battling falling circulations for more than a decade as people consume more news online.

This week ESI Media, which publishes the Independent, announced the newspaper would move completely online in March.

On the same day, Johnston Press confirmed it had reached a deal to buy the i newspaper from ESI Media.