Using his consultancy company Inclusive Digital, Dacre is hoping to pull together a consortium to mount a strong proposal for culture secretary Jeremy Hunt's UK-wide channel for delivering local content to major British cities.
Hunt wants bidders to submit proposals by March 1 for providing the channel on digital terrestrial television (Freeview), which would have a national schedule but enable local operators to "opt out" in certain areas to deliver local shows and adverts.
Dacre joins Welsh independent production company Tinopolis in expressing an interest, along with Richard Horwood's Channel 6 group and the Local Television Network, led by Greg Dyke.
Speaking to The Guardian, Dacre said: "I am an optimist - to me it is absolutely inevitable there will be a growth in local video journalism, especially in lively conurbations, and at the very least that will be looking for outlets,"
Last year, Dacre led the News 3 consortium - including Trinity Mirror, the Press Association and TV producer Ten Alps - which won the independently funded news consortium (IFNC) contract for the Tyne Tees and Border region under the previous Labour administration.
However, the IFNC scheme was vehemently opposed by Hunt, who killed it off more or less immediately after the new coalition government came to power.
Dacre said that Hunt's new proposal for providing a "backbone" for local services made sense, as it would create a recognisable brand and keep down costs.
"No-one wants a loss-making channel," Dacre said. "The key is keeping costs down. You can clearly make low-cost but high-quality content, provided you have proper training, you avoid expensive studios, presenters and high-cost graphics. What local people want is their top local stories, told well in video.
"We all know that making local news stories is much cheaper than 10 years ago, and so is launching a new channel. This should not follow a high-cost Channel 5 model, with offices near Trafalgar Square."
Yesterday, Horwood's Channel 6 announced partnerships with leading universities and colleges around the UK to tap into emerging media talent for the local TV channel.