ARY Network takesover BOL TV

Popular Pakistani broadcaster, ARY Network has taken over BOL TV, its been confirmed.

Tweets on various social networking sites has confirmed the developments. Wasim Badami said, “ARY TAKES OVER THE MANAGEMENT OF BOL TV!!!!”

A takeover was widely speculated after Chief Executive Officer of ARY News Salman Iqbal and Chairman of ARY Group Haji Iqbal visited the BOL TV offices in Karachi.

Previously, ARY Network offered an olive branch to BOL TV by expressing support for journalists. The latter owned by Axact has been embroiled in controversy over an alleged fake degree scam. Its CEO Shoaib Sheikh and his deputy, Waqas Atiq were arrested in May. Sheikh is expected to make an announcement about the takeover imminently.