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Free newspaper business model was introduced to the world by Western countries as a successful business model and today, many Western countries and some Asian countries doing business well with this concept. But this concept is still new to Sri Lanka. As per our knowledge this research work is the pioneer research work on free newspaper concept in Sri Lankan perspective. The history of the birth and development of the newspaper in Sri Lanka clearly shows that, Sri Lanka has been a pioneering country in Asia publishing newspapers in the early nineteenth century and maintaining some newspapers even to this day. So there is a question that, why this free newspaper concept is not practiced in Sri Lanka. Therefore the main objective of this study was to find out the feasibility to start a free newspaper in Sri Lanka. This book provides a profound understanding about strengths, Weaknesses, opportunities and threats which affect on this concept, when it operates in Sri Lankan context. This study especially useful to professionals in Communication, Advertising and Marketing fields, or anyone else who may be interesting in new trends in media.