1978 saw the launch of two English dailies in the Gulf. While its competitor carved a special niche for itself in the market and built up a loyal readership, Gulf News remained erratic, barely surviving with a circulation of 3000. Problems were compounded with ownership changes and with no investors willing to take a risk, it was on the verge of closure. Then, in one dramatic move the fate of Gulf News changed. In 1984, three visionary, leading businessmen of Dubai bought it over. And Gulf News was relaunched on December 10, 1985 by Al Nisr Publishing LLC. Within a few months Gulf News had new premises, new printing technology, revitalised editorial, marketing, circulation teams and production professionals to harness the new technology. A multi-pronged marketing strategy hit the target, advertising revenues soared by over 40% in the first three months, and subscriptions took a gigantic leap.