The former president of the GAA, Mr Peter Quinn, is believed to be among the backers of a new national daily newspaper called Ireland Today.
Mr Quinn, a financial consultant, is expected to link up with the Belfast-based Anderstown News group in the venture. A press conference to outline their plans is due to be held next week.
Several Northern politicians are expected to attend the press event and the paper is expected to adopt a strong nationalist line. The paper is expected to focus on Northern politics, but the backers will be promoting the paper throughout the island.
The paper is expected to be a tabloid format of about 64 pages. According to some sources the backers aim to keep a tight control on costs and consequently the project could be viable even with a relatively small circulation.The main competitor will be the Belfast-based Irish News.
The Anderstown News Group produces the bi-weekly Anderstown News, plus local Belfast titles, the North and South Belfast News. The Irish language paper, Lá, is also published by the group.
The group was established in November 1972 and it expanded significantly in the 1980s. In 1998, the North Belfast News was started; Lá became part of the group in April 1999. A website including several of the titles, irelandclick.com, was launched in June 2000.
Four years ago the paper opened a new building complete with a modern printing press.
Mr Quinn is a long time newspaper investor having previously been involved with the sporting newspaper the Title and Ireland on Sunday.
Mr Quinn, whose brother Sean is a well known Cavan-based businessman, recently made an investment in two newspapers in west Dublin, edited by former Meath footballer Mr Liam Hayes.
