Addis said The Day was one of four newspaper projects he had been working on through new company Shake Up Media, which he founded earlier this year.
“The Day has been through a few different guises, but the current one is free, London area, more upmarket,” he said.
While Addis declined to disclose any content details or a launch date, he admitted that, in an increasingly crowded market, it would help if a new contender possessed “a niche element – like sports or business”, following in the footsteps of business freesheet City AM or Mike Soutar’s soon-to-launch ShortList.
While Addis would not disclose potential backers for the venture, it is understood that he has approached rail companies and Daily Mail and General Trust, owner of the Daily Mail.
Addis also revealed that he plans to launch a weekly title in the ultra-local news market, using paid-for user-generated content.
“News will be posted online by members of the public and then printed out in newspaper form on a weekly basis,” he said.