The publication was founded on 29 October 1890 by , a former close acquaintance of
Amadeo I. Following the death of Ducazcal in 1891, the publicacion was bought by Eugenio González Sangrador. In 1893, the newspaper was bought by the Canalejas brothers,
José and , and a number of political supporters of the former. Since then, it would grow to become a major publication, as well as the mouthpiece of the Democratic
Liberal political platform of José Canalejas. By the early 1910s, following the 1906 acquisition of the newspaper by the (the so-called "Trust"), the Heraldo came to adhere to the political platform of
Segismundo Moret, rival of Canalejas (then prime minister) within the Liberal party. Owned by the Busquets brothers ( and Juan, holders of the since 1918), Manuel Fontdevila was hired in 1927 as editor. Already started the
Spanish Civil War, rebel general
Juan Yagüe had already announced a grim fate for the daily in September 1936 after the rebels seized
Talavera de la Reina: "
Cuando entremos en Madrid lo primero que voy a hacer es cortarle la cabeza al director del Heraldo de Madrid" ("When we enter Madrid the first thing I'm going to do is cut off the head of the director of the
Heraldo de Madrid"). However the Francoists did not enter the city in 1936, and the daily, whose direction was assumed by Federico Morena by 1937, endured more than two years with a reduced staff. The last issue of the newspaper was published on 27 March 1939. Seized by Falangists following the entry of the Francoist army in Madrid on the next day, the premises of the newspaper (located at the ) were to be occupied by , edited by , who had been chief of press of the Francoist junta during the conflict. == Editors ==