At a time when other newspapers are cutting back, the Philadelphia Daily News will launch an ambitious new weekend edition, it was announced Tuesday.

The new edition, which will supplant the Saturday edition of the paper, will target a younger audience but retain the tabloid's emphasis on sports, features, and gossip, according to Daily News Editor Michael Days.

"It will be sort of like the Daily News on steroids," Days said. "We want to keep it light, keep it fun, and keep it interesting. The goal is to have content that will have a longer shelf life, for both Saturday and Sunday."

The new edition is set to debut in October. It will be available on newsstands Saturdays, but carry a Sunday date. Its look and content are still being developed, Days said. A newsstand price of $1.75 is being considered.

Brian P. Tierney, chief executive officer of Philadelphia Media Holdings, publisher of The Inquirer and the Daily News, said the new edition was "the result of over a year of creative thought and a great deal of research."

"We think there is an audience that doesn't read the Sunday Inquirer, primarily a certain segment of under-30-year-olds . . . that will enjoy this new product," Tierney said. "It won't be the regular Daily News published another day, rather a unique product with a review of the week behind and preview of the week ahead."

The Daily News has hired Steven Grasse, a local branding consultant, to help develop and promote the new edition.

"We want to create something that is different from the Daily News but related to the Daily News," said Grasse. "We are hoping to give it a different spin but still have the attitude that the Daily News is known for."

The new edition will set the Daily News apart in an industry that of late has largely seen only cutbacks and closings.

"There is not a lot of similar activity going on at the moment," said Ken Doctor, a media analyst for the research firm Outsell and a former newspaper editor. "In Europe, however, it is standard for many papers to have weekend editions. The idea is to give a different kind of read.

"At a time when innovation is needed, I think it is a good idea."

Contact Christopher K. Hepp at chepp@phillynews.com or 215-854-2208.