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ARY TV Network Takes Over Axact's Bol TV Network

Devil Soul

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Ary has taken over management of BOL not bought it out right







Though Mubasher Lucman in london at the moment has confirmed that there is a percentage formula that’s been worked out between the two managements. Now ARY and PEMRA and Govt all have come out in open to take over bol TV.


UPDATE 4:47 pm: It is now confirmed that ARY will take over BOl’s management from tomorrow on an 45-55% share formula.

5:19 pm: Salman Iqbal is addressing his empolyees right now. He starts by talking about the media field and how it is a passion driven field.

5:20 pm: What brought ARY and BOL together is a shared ideology of the interests of Pakistan.

5:22 pm: Whatever BOL had promised for their employees, we will not change that for the worse; only for the better. The first thing we will do is give BOL employees their salaries.

5:26 pm: We have to launch BOL within three weeks.
Stay tuned to www.baaghi.tv for more live updates on this news.


BOL TV bought by ARY NEWS- plans to launch BOL on 6th Sept (Defence Day) | Baaghi TV, Pakistan


To be launched on 6th September 2015 on Pakistan defense day


matam shur at geo,express,dunya and news one
 
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Whatever BOL had promised for their employees, we will not change that for the worse

I doubt that

The owners of BOL were involved in shady things but at least they took care of their employees.

Before that lower grade employees of all media houses including ARY had problems.
 
ARY CEO announces BOL TV takeover
DAWN.COM — PUBLISHED 19 minutes ago
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Salman Iqbal said management aims to clear the pending salaries and unpaid dues of BOL employees. —AFP/File
KARACHI: In a startling development, ARY Digital Network Chief Executive Officer Salman Iqbal announced that the media group has taken over management of BOL TV.

Speaking today at a ceremony arranged at the BOL TV office, Iqbal said the upcoming channel will start its broadcast in three weeks.

The ARY CEO further said that clearing the pending salaries and unpaid dues of BOL employees would be a key priority. He also vowed to keep the remuneration packages offered to BOL employees as promised.

“The driving force behind this decision was our mission to try and ease the difficulties faced by media persons,” said Iqbal.

Know more: Bol TV asked to wait for clearance of Axact

Earlier, the Pakistan Electronic Media Regulatory Authority (Pemra) had ordered the management of Bol Television in May to stop their transmission until the directors of their parent company Axact were exonerated from charges of fraud and money laundering.

Axact’s directors are currently facing charges in the wake of a massive fake degree scandal, which was exposed by The New York Times.

The information ministry had issued directions to Pemra to stop the transmission of Bol TV.

Editorial: Bad decision by Pemra

The letter, titled ‘Policy advice under Section 5 of the Pemra Act 2007’, directed the authority to “ensure stoppage of transmission of Bol channel through any distribution network for the time being (sic).”

The information ministry had said that the directors of Axact are about to launch the Bol TV channel, and that since the matter is under investigation by the Federal Investigation Agency, letting the channel go on air may seriously hamper the investigation.

Earlier, a detailed NYT report titled "Fake Diplomas, Real Cash: Pakistani Company Axact Reaps Millions" had outlined how Axact — referred to as a "secretive Pakistani software company" — allegedly earned millions of dollars from scams involving fake degrees, non-existent online universities and manipulation of customers.
 

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