Times Newspapers Limited (TNL) managing director Clive Milner said: "The compact Times is yet another example of the willingness of TNL to invest in our products and will give our readers more choice and our advertisers more value."
The tabloid version, which will initially be aimed at Londons commuter market, will have the same 50p cover price as the broadsheet. It will be on sale from next Wednesday (26 November).
Last month the Independent launched its compact version of the broadsheet in the London area. This was then expanded into the Granada television area earlier this month.
The latest ABC figures show that the Independents tabloid version had an average net circulation of 30,520 in October, which is 13% of its total circulation.
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