The initiative is arguably the most ambitious ever developed by BBC Magazines and is likely to have international appeal.
Carrying the code name Project Phoenix, the magazine could launch later this year, but, given the size of the undertaking, might be delayed until 2007.
BBC Magazines ad sales director Ashley Munday recently moved into a new development role (Media Week, 6 June) in preparation for a major launch. It is believed he is working on Project Phoenix.
The magazine will likely be linked to the BBC鈥檚 news programming. It has been suggested by insiders that there were initially plans to launch the title this spring, but that it was delayed due to sensitivities surrounding the Government White Paper on the future of the BBC.
BBC Magazines managing director Peter Phippen is known to have been keen to launch a news-based magazine since the mid-1990s.
The title is inspired by the likes of German magazine Der Spiegel and by US publications such as Time.
A BBC Magazines spokesman said no such launch was planned for this year, adding that Ashley Munday was working on an international project.
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