On Monday, Bol Network revealed that it had been purchased by private equity company AsiaPak Investments under the leadership of a new chairman.
According to the press release, Bol would maintain its “nationwide presence” in Karachi. It made it clear that the Karachi, Lahore, and Islamabad offices of AsiaPak Investments existed.
The statement continued, “It invests exclusively in Pakistan; its sectors include infrastructure, energy, power, transport, logistics, and technology.
Additionally, Sameer Chishty was introduced as the new chairman and CEO of Bol Network. Chishty was referred to as a “seasoned international technology investor in Asia and the Middle East” in the press release.
Globally, digital technologies, artificial intelligence, and telecommunications are all making amazing progress. The press release quoted Chishty as saying, “Impact is being felt across the entire media ecosystem, including content creation, news, entertainment, gaming, music, education, communication, and community.
“I have seen firsthand the potential these technologies have in changing lives, transforming societies, and growing economies,” he said. “As a general partner at SparkLabs Group, I invest in over 500 technology companies in China, Korea, Saudi Arabia, and other countries.”
And precisely these kinds of opportunities need to be made available to every Pakistani. The new Bol Network promises potent methods of producing and disseminating content so that we can all learn and teach, he said.
Bol, according to Chishty, will enable users to engage their communities in discussion of issues that matter to them.
“Everyone of us will raise our voices. We will be, know, and act more when we work together. Bol invites everyone to join us on this mission, including our viewers, advertisers, employees, and future hires.
The network’s TV channel was scheduled to debut in 2015, but the plan was scrapped after parent company Axact got involved in a scandal involving fake degrees.
Salman Iqbal, the founder and CEO of ARY Digital Network, announced a takeover of the Bol media network in August 2015. After several months of delay because of the legal proceedings, the TV channel finally went on the air in October 2016.
The network’s original owner, Shoaib Shaikh, and 22 other defendants were found guilty in the fake degree case in 2018.
