A new mid-market daily tabloid newspaper will be published in Dublin from next Spring.
The Dublin Dailywill be a 64-page paid-for colour tabloid with a target circulation of 33,000 after two years. It will be backed by €4 million in equity funding.
The company will have 40 staff at launch and has started recruiting.
The editor of Dublin Dailywill be former Gaelic football star Mr Liam Hayes, who was founding editor of Ireland on Sunday. Mr Colm Grealy, founder of Ireland Online, will be the company's chief executive.
Mr Hayes said Dublin is the only capital city in Europe without its own daily newspaper. "Coupled with a demographic that has changed radically over the past two decades in particular, it makes absolute sense to target Dublin as a city".
British media company Archant is the single largest shareholder, with an investment of €1.5 million and a 20 per cent stake.
The chairman is entrepreneur Mr Paschal Taggart, former chairman of Ireland on Sunday.