As the successor to the previous "Mr. and Mrs. Special Edition" and the weekly "Philippine Inquirer", it was founded on a budget of P1 million and enjoyed a daily circulation of 30,000 in its early days. The new daily was housed in the dilapidated one-story Star Building on 13th and Railroad streets in Port Area, Manila. It was put out by 40 editors, reporters, correspondents, photographers and other editorial employees working in a 100 square meter newsroom. Columnist Louie Beltran was named its editor-in-chief.