Why not use
Seems like it's exactly what you're looking for:
logrotate is designed to ease administration of systems that generate
large numbers of log files. It allows automatic rotation, compression,
removal, and mailing of log files. Each log file may be handled daily,
weekly, monthly, or when it grows too large.
Normally, logrotate is run as a daily cron job. It will not modify a
log multiple times in one day unless the criterion for that log is
based on the log's size and logrotate is being run multiple times each
day, or unless the -f or --force option is used.
Any number of config files may be given on the command line. Later
config files may override the options given in earlier files, so the
order in which the logrotate config files are listed is important.
Normally, a single config file which includes any other config files
which are needed should be used. See below for more information on how
to use the include directive to accomplish this. If a directory is
given on the command line, every file in that directory is used as a
If no command line arguments are given, logrotate will print version
and copyright information, along with a short usage summary. If any
errors occur while rotating logs, logrotate will exit with non-zero