AsiaPak Investments has acquired Bol Network

Bol Network will continue to have its headquarters in Karachi and a nationwide presence, as stated in an official press release by the company.

AsiaPak Investments is an investment firm operating exclusively within Pakistan, with offices in Karachi, Lahore, and Islamabad. Their investments cover various sectors such as infrastructure, energy, power, transport, logistics, and technology.

The newly appointed Chairman and CEO of Bol Network, Sameer Chishty, brings extensive experience as an international technology investor in Asia and the Middle East.

He emphasized the significant advancements in digital technologies, artificial intelligence, and telecommunications worldwide, which are influencing the entire media landscape, including content creation, news, entertainment, gaming, music, education, communication, and community engagement.

Having been a General Partner at SparkLabs Group, where he invested in more than 500 technology companies across China, Korea, Saudi Arabia, and other nations, Sameer Chishty sees the transformative potential of these technologies in improving lives, societies, and economies. He aims to make these opportunities accessible to all Pakistanis.

Chishty also highlighted Bol Network’s vision, stating that it aims to revolutionize content generation and distribution. The network plans to empower users to connect with their communities on issues of significance to them.

BOL Acquistion and Growth press release 11SEP2023 (3)

Bol Network envisions enabling Pakistanis to create content within Bol studios, captured by Bol cameras, broadcasted on Bol satellite TV, and shared on global online social media platforms with the assistance of Bol. The goal is to give everyone a voice and promote collective learning and growth. Chishty invited viewers, advertisers, employees, and potential future employees to join Bol Network in this mission.

Bol Network is known for its leading news and entertainment channels catering to Pakistanis worldwide. Notably, the network possesses its studio production facilities and operates cutting-edge media technology with a global reach on various broadcast and digital platforms.

In addition to acquiring Bol Network, AsiaPak Investments holds other key investments, including Daewoo Pakistan, Thar Coal Block 1 (a significant CPEC “early harvest” project involving a 7.8 million tons per annum coal mine and a 1,320 MW mine mouth IPP), and Liberty Power Limited (a 235 MW gas-fired IPP).

Earlier, In August 2015, Salman Iqbal, the Founder and CEO of ARY Digital Network, had announced the acquisition of the Bol media network. However, the TV channel eventually commenced broadcasting in October 2016, following significant delays caused by legal proceedings.

Shoaib Shaikh, the network’s original owner, and 22 others were convicted in 2018 in connection with the fake degree case.

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