The Telegraph Media Group (TMG) is set to launch a new digital division aimed at driving new revenue streams for the company.

According to TMG, the new department will be based in London Euston, away from its main headquarters in Victoria, and will comprise a team of 50 staff, of which 10 will be sourced within the group.

TMG’s editor-in-chief, Will Lewis, will be responsible for the new team and retain his position.

The firm’s chief executive, Murdoch MacLennan, has been quoted as saying that the new unit would "fast-forward to the next stage of our digital transformation ", while using The Telegraph brand to "capitalise on cutting-edge ideas, driving new revenue streams by better serving our customers".