KARACHI (Staff Report) – The management of Pakistan’s upcoming controversial TV channel BOL News has been taken over by ARY Group, which also owns ARY Jewelers, ARY News and a number of entertainment media outfits.

According to well informed sources, CEO of ARY Group Salman Iqbal also visited BOL News headquarters in Karachi along other executives including Chairman Haji Muhammad Iqbal.

He announced to launch BOL News with in next three weeks.

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“The development is aimed to protect future of the journalists working in BOL News,” Salman said. He further said that all the promises made by previous management will also be fulfilled and salaries of employees will be paid on first hand.

Another senior executive of ARY News Waseem Badami also confirmed that ARY Group has taken over the BOL News management.

Iqrar-ul-Hassan, who hosts a show at same network, termed this development as the biggest story in the history of of Pakistani media.

Read Related: PEMRA asked to stop BOL News going on-air

Earlier the launch of BOL News, the largest media network of Pakistan according to founder Shaoaib Shaikh, was once again delayed after the parent company Axact was found to be involved in selling fake degrees online.

Federal Investigation Agency (FIA) had lodged an investigation into case following the revelations of NY Times and arrested CEO Shoaib Shaikh along other eight executives. The authority is yet to conclude the investigation in this regard.

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Following the developments as many as 6 leading BOL News executives including Kamran Khan, Azhar Abbas, Iftikhar Ahmad, Asman Sherazi, Wajahat S. Khan and Nusrat Javaid left the organisation and settled for other media houses.