Al Jazeera Media Network 1 November 1996 following the closure of the first BBC Arabic language television station, then a joint venture with Orbit Communications Company, owned by Saudi King Fahd's cousin, Khalid bin Faisal Al Saud. The BBC channel had closed after a year and a half when the Saudi government attempted to thwart a documentary pertaining to executions under sharia law. The Emir of Qatar, Sheikh Hamad bin Khalifa, provided a loan of QAR 500 million ($137 million) to sustain Al Jazeera through its first five years, as Hugh Miles detailed in his book "Al Jazeera: The Inside Story of the Arab
Al Jazeera was Al Jazeera's first day of 24-hour broadcasting. Employment had more than tripled in one year to 500 employees, and the agency had bureaus at a dozen sites as far as EU and Russia. Its annual budget was estimated at about $25 million at the time. However controversial, Al Jazeera was rapidly becoming one of the most influential news agencies in the whole region. Eager for news beyond the official versions of events, Arabs became dedicated viewers. A 2000 estimate pegged nightly viewership at 35 million, ranking Al Jazeera first in the Arab world, over the Saudi Arabia-sponsored Middle East