DETROIT -- Two veteran publishers are launching a daily newspaper serving the Detroit area, where the two main players have reduced home delivery to survive in a struggling industry.

Brothers Mark and Gary Stern said Friday they'll start publishing The Detroit Daily Press on Nov. 23, selling it for 50 cents daily and $1 on Sundays. Home delivery starts Nov. 30.

Mark Stern said the Detroit Daily Press should appeal to older readers who prefer a print copy of the paper, and its primary niche will be those who want their paper home-delivered.

“There’s a real void out there, both in readers looking for a newspaper in their hands every morning, and among advertisers who can’t afford the costs of our competitors,” Mark Stern said.

To deal with declining circulation and advertising revenue as well as changing readership tastes, the Detroit Free Press and The Detroit News launched a plan March 30 to reduce home delivery to Thursday, Friday and Sunday and began offering an electronic edition.

The paper's 60 full-time employees are using the former offices of The Daily Tribune of Royal Oak, which moved.

They did not release the size of their investment, but Gary Stern said they could subsidize the operation for one to two months. They said the break-even point would be a circulation of about 150,000 subscribers.

The Sterns ran daily newspapers in Detroit in 1964 and 1967; New York in 1978; and Minneapolis in 1980 when workers at those cities' major newspapers went on strike.

Related: Detroit Papers Slash Delivery