Just days after it was announced that The Independent would soon no longer exist as a print publication, it has emerged that Trinity Mirror is planning a new weekday newspaper called New Day.

The Mirror's publisher is said to be launching the paper on February 29 - the same day Trinity Mirror publishes its results.

It will initially have a cover price of 25p, Sky News reports.

Sources added that New Day is expected to rise in price to more than i, which is currently 40p.

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Johnston Press bought The Independent's sister paper i for £24 million last week from the Lebedev family's ESI Media.

Reports vary as to how many copies of New Day will initially be printed. Sky News suggests a million, while The Guardian's sources talk of an initial run of up to two million.

A media industry source told the broadsheet that rather than compete with i, New Day will seek "more like a Mail and Express-type audience".

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