Broadbent's appointment is likely to bring credibility to the venture, which has been dismissed in some circles due to the already crowded newspaper market. Broadbent will also play a leading role in the management team's attempts to raise funds from the City.
The Emap chairman is well-known in the City, being a former non-executive director of Capital One Bank's European arm and was previously chairman of clothing retailer Arcadia Group. Broadbent has also spent time as an investment banker at Schroders.
According to reports in The Sunday Telegraph, Emap is not involved in the new paper.
The quality tabloid is to be similar in format to the recent tabloid launches of The Independent and The Times. Glover, a former editor of The Independent on Sunday, is said to be pitching the paper on a level with Le Monde, arguing that The Daily Telegraph and Times have turned off upmarket readers with too many consumer and celebrity stories.
Glover will be editor of the new title with Vicky Unwin, former managing director of PR Newswire, as chief executive. It is understood that several senior journalists on national newspapers have agreed to work on the title.
Glover is looking for an initial £15m to launch the title and is aiming for a circulation of 100,000.
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