September 16, 2015
ISLAMABAD: The Pakistan Electronic Media Regulatory Authority Wednesday suspended licenses of BOL News and BOL Entertainment.
A PEMRA announcement said the decision to suspend BOL TV Network’s licenses was taken during the authority’s 106th meeting. It said the Council of Complaints had recommended suspension of the licenses following its meeting held on August 18.
Last month ARY Television bought 45 percent shares of BOL News and had announced plans to launch the channel on September 6.
Independently BOL was to be launched on first of Ramadan but could not hit the airwaves after a story published in The New York Times accused Axact, parent company of BOL, of selling fake diplomas to students.
Federal Investigation Agency (FIA) is investigating alleged charges of fraud against Axact and BOL chief executive Shoaib Ahmed Shaikh.
Daily Times, February 14, 2019
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