[1][2] It was founded by the Wai Kee-shun family, who made their fortune in pharmaceutical industry and was the first colour-printed newspaper in Hong Kong.
[3] In 1985, the paper's future was in doubt as the owner of the publisher, Alan Lau's business, Millie's Handbags and Shoes, had collapsed a year earlier.
The paper was kept alive by a HK$30 million bank loan, personally guaranteed by Xu Jiatun, director of the Hong Kong branch of the Xinhua News Agency.
Sing Tao Holdings was majority owned by Sally Aw, who also founded another newspaper Express News [zh] (Chinese: 快報).
However, in 1998, the controlling stake of Culturecom Holdings was sold to Australia-listed company ViaGold Capital [zh].