Commercial executives from Dennis have been speaking with media agencies about advertising opportunities for the publication, which has been codenamed "Project Rusty" and is due to launch this autumn.
The title is being positioned around the line "Do something" and is expected to cover health, fitness, well-being, technology, careers, food, nutrition, fashion and modern living.
Sources suggest Dennis is targeting distribution of 300,000 across major UK cities, a number similar to UTV Media’s free weekly magazine Sport. ShortList, in comparison, has a circulation of 500,000.
The urban free magazine market is set to become even more competitive when Time Inc UK launches NME as a free publication.
A Dennis spokeswoman declined to comment.