UK title The Independent is prepping to launch on Oct. 26 a new daily, called "i," which will target readers in their 20s, MarketingWeek.co.uk reported today. The launch date's announcement comes after weeks of industry speculation suggesting The Independent could change to a freesheet, a notion that has been dismissed by owner Alexander Lebedev.

i's launch is "targeted at readers and lapsed readers of quality newspapers, and those of all ages who want a comprehensive digest of the news in printed form," the publisher reported today. It is hoped that the quality daily will complement The Independent newspaper, which remains priced at £1, and will be available for sale at newsstands from Monday to Friday at a cover price of 20p.

Image Source: MediaWeek.co.uk

"I am very proud to launch i, which will be the first quality daily paper to have launched in Britain since The Independent itself in 1986. My father and I believe that a free press is a fundamental tool of a democracy, and we believe that newspapers still have a future, and a very important one," Evgeny Lebedev, chairman of Independent Print Ltd stated. "We have shown by our investment in the London Evening Standard that, even in these highly competitive times, it is possible to revive a brand, and we aim to do the same with The Independent by the launch of i and the improvements to the parent paper."

The 'i' will be the first quality daily to be launched by the media group in almost 25 years, MediaWeek.co.uk reported today.

While no official information has been provided about the new daily title's pagination, initial print run or distribution strategy, MediaGuardian reported that the daily will have nationwide distribution with a circulation target of 400,000.

According to a statement by the publisher, "i will combine intelligence with brevity and depth with speed of reading, providing an essential daily briefing." The quality daily will be edited by the Independent's editor-in-chief Simon Kelner and the launch will be backed by significant outdoor advertising campaign developed by Trevor Beattie of agency BMB.

Having witnessed a fall in its full price paid-for circulation to less than 100,000 copies in the UK and Ireland, this move by the Independent group is aimed at attracting new readers. Citing information provided by an anonymous source, MediaGuardian reported that: "nearly all of the content will be taken from the Independent with "some small unique stuff around the edges."