Initially a print publication, the SunStar Manila was partially funded by the acquisition of businessman William Gatchalian, also known as the "plastics king" for his dominance of the Philippine plastic industry, of a minority stake in the newspaper: his second attempt at investing in a newspaper after owning a minority share in the SunStar Cebu in the 1980s, which he sold off in 1986.

The acquisition was controversial at the time given Gatchalian's closeness to then-President Joseph Estrada as a member of his so-called "midnight cabinet", leading to fears that the newspaper would be used to sway public opinion.

This charge was denied by Hector Villanueva, then editor-in-chief of the SunStar Cebu.

[2] This was evidenced by the newspaper being one of only a handful of publications printing articles written by the Philippine Center for Investigative Journalism (PCIJ) highlighting the extent of the Estrada family's business holdings,[3] a decision criticized by critics of the PCIJ.

[4] Despite the paper's initial success,[2] with its 2002 daily circulation of 87,000 copies being larger than even more established newspapers such as The Manila Times,[5] the SunStar Manila was not profitable,[3] and publication of the print edition was ultimately ceased in favor of maintaining an online-only edition some time thereafter.