The Scottish broadcaster has submitted applications to Ofcom to be awarded special local TV licences covering the two cities.
Ofcom's deadline for accepting bids for 21 new local TV stations across the UK, including Edinburgh and Glasgow, expired yesterday (August 13). The proposed new channels will be delivered to viewers over Freeview using a new overarching multiplex operator.
This forms part of culture secretary Jeremy Hunt's drive to create a vibrant local television network in the UK to serve communities, improve local democracy and provide an alternative to the BBC.
STV has therefore partnered with Glasgow Caledonian University and Edinburgh Napier University to propose the creation of Glasgow TV (GTV) and Edinburgh TV (ETV).
The new channels would benefit from STV's facilities and experience as a digital broadcaster, and they would also offer a place for media students at the universities to train in a live environment. It is also expected that the stations would provide job opportunities in Glasgow and Edinburgh.
STV's application proposes that peak time content on GTV and ETV would include extensive locally relevant news and current affairs programming, as well as tailored magazine shows.
STV's director of channels Bobby Hain said that GTV and ETV would offer "innovative and viable local TV options" for the two Scottish cities.
"We're delighted to be working with our leading university partners to offer informative content that focuses on relevant, community news," said Hain.
"Engaging with local communities is at the heart of GTV and ETV and our proposals will deliver brand new services that will meet the needs of these two culturally distinct cities."
Alongside STV, Glasgow Caledonian and Edinburgh Napier University would have representatives on the boards of GTV and ETV respectively.
Glasgow vice chancellor professor Pamela Gillies said: "I am delighted that we are forming a partnership with STV as it submits an application to deliver GTV.
"We are ideally positioned to engage in this partnership, offering strengths such as our undergraduate and postgraduate Multimedia Journalism degrees, which have already produced graduates who have secured employment with STV.
"We have always placed great emphasis on employability, and the launch of GTV would give our talented and committed graduates even more of a head start."
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Dame Joan Stringer, the principal and vice chancellor of Edinburgh Napier University, added: "This bid represents a tremendous opportunity for our students as well as the wider community in Edinburgh.
"We are fortunate to already enjoy a strong relationship with STV and, as an institution with a long history of producing first class broadcast journalists, we are very pleased to now be a partner in the Edinburgh TV bid."
There had been fears that the local TV licences in Scotland were failing to drum up any interest, largely because a key advantage available to English bidders will not be available in the country.
Stations south of the border will launch on channel eight on Freeview, meaning they are highly visible on the front page of the electronic programme guide.
But in Scotland the number eight slot is already taken by Gaelic-language channel BBC Alba, meaning the local TV network will be bumped down to the less prominent position of channel 48.
However, STV clearly sees value in the project as a joint partnership with the universities. The broadcaster could also look to combine the local TV services with its STV Local network of hyper-local news and information websites in Scotland.