A new free daily newspaper, Metro, is expected to be available in Dublin early next week following the outcome of a court action.

The Irish edition of Metro, which is already available in 57 cities in 18 countries, will be owned by The Irish Times Ltd, Associated Newspapers of the UK and Swedish company Metro International, which owns the franchise for the publication.

The announcement that the paper will go ahead follows the granting yesterday by the High Court of an injunction preventing Independent News & Media (IN&M) from distributing a competing free publication with the word "metro" in the title.

The Metro will be distributed Monday to Friday in key locations around the city. The paper is designed to be read in about 20 minutes and targeted at commuters, with research showing that most readers of the product are likely to be young urban commuters who may not normally purchase a newspaper.

The Metro will be printed by The Irish Times Ltd, the publisher of The Irish Times, at its plant in Citywest. The Irish Times Ltd is taking a one-third stake in the project, along with the other two companies. However the arrangements are subject to clearance by the Competition Authority.

It is understood The Irish Times Ltd is investing more than €1 million initially in the project, as well as acting as contract printers.

It already has a business relationship with Associated, via its printing of the Irish edition of the Mail on Sunday.

The new product will be published by a company called Fortunegreen Ltd. The chief executive will be Lee Thompson, who previously ran the operations of Yahoo in Ireland.

The Irish Times Ltd said yesterday - in an internal communication to staff - that getting involved in the project would allow the company "to influence this important Irish media development from within".

"The Irish Times will be strengthened by this partnership in the same way that it has been strengthened by our investment in entering the contract print business at Citywest," it said.

Daily Mail and General Trust in the half year ended April 3rd, 2005, reported turnover of more than £1 billion (€1.45 billion) and operating profits of £102 million. The company has interests around the world in national and regional newspapers, television, radio, exhibitions and information publishing. The main shareholder in the company is Viscount Rothermere, who belongs to a long-standing Fleet Street dynasty.

IN&M has made it clear it will be responding with a product of its own. It is already locked in a fierce commercial battle with Associated Newspapers, publisher of Ireland on Sunday. Associated is believed to be considering launching further products into the Irish market, including an Irish version of the Daily Mail.