The move has been under consideration for some time, but today The Financial Times reported that executives at parent company News Corp will be discussing the issue at a budgeting and strategy meeting in New York this week.
News International is hoping to have the new facility with colour presses opened by 2010, according to sources. It is thought that it will be on the outskirts of London where land is cheaper.
However, the move will not herald a change for journalists who are likely to remain in central London.
Print production has been at Wapping for almost 20 years since Murdoch moved his papers to the plant in 1986. The move smashed the power of the print unions in the newspaper industry and paved the way for other titles to use non-unionised plants.
The move to Wapping turned into an epic struggle between unions and management resulting in violent protests as 6000 trade unionists went on strike and clashed with riot police in a struggle that lasted for almost a year. The strike finally collapsed in 1987.
Some have speculated that the new plant could be in Deptford, in South East London, where Murdoch is known to own land. The area is known as Convoys Wharf.
Reports say that the redevelopment of additional land around News International's Wapping headquarters will help fund the new plant and raise hundreds of millions of pounds, due to its close proximity to the City and Canary Wharf.
News International has so far declined to comment, saying only that a decision has yet to be made. An insider told the FT that print demands had been reassessed due to last years launch of the compact Times, which requires different presses.
Last month, parent company News Corporation announced it was moving its headquarters from New York to Australia.
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