The Post recently relaunched its print edition as a weekly business publication with all breaking news being handled online.

However Mr Reeves and two former colleagues are now thought to be on the verge of launching a Midlands version of TheBusinessDesk.com, the online business news service which covers Yorkshire and the North West.

He is so far saying nothing publicly about the plan, but speculation is mounting that an announcement could be imminent after stories about it surfaced on various blogs yesterday.

The rumours began after a story headlined 'Ex Birmingham Post editor to launch business website' appeared on The Drum, a Scottish-based media site to which Mr Reeves is a regular contributor.

The link to the story was taken down shortly afterwards, but by this time the media blogger Jon Slattery had picked up the story and run it on his site.

Mr Reeves has so far not responded to our requests for comment on the plan.

However HTFP understands from other media sources in the West Midlands that yesterday's reports were accurate and that Mr Reeves has already begun selling advertising for the new site.

Since he left the Post in December, Mr Reeves has been appointed to sit on the panel to help the government select the consortia to run the regional TV news pilots.

His old employer Trinity Mirror is bidding to run one of the pilots, in the North-East.

TheBusinessDesk.com was launched by former Yorkshire Post business editor David Parkin in November 2007 and the North-West edition followed in September 2008.

The site now has 28,000 subscribers and employs five journalists.