NewsOne TV hit by layoffs and unpaid wages, channel remains on air
October 30, 2025: NewsOne TV remains on air but faces mass layoffs and delayed salaries, exposing Pakistan’s worsening media crisis and financial instability.
JournalismPakistan.com | Published 9 years ago
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KARACHI - A sessions court here Wednesday acquitted Shoaib Ahmad Shaikh, the CEO of software company Axact in a money laundering case.
Shaikh, who also heads the BOL Media Group, had been in jail after being accused of illegally transferring Rs170m abroad. Two other accused in the case are on bail. The case was heard in the court of Additional and Sessions Judge (South).
Shaikh’s acquittal is being seen as a major victory for Axact and BOL, the media group that is widely believed to have been targeted and victimized by the authorities in connivance with some of Pakistani media’s ‘big boys’ because of its financial muscle.
Last week the Sindh High Court had granted bail to Shaikh and 13 others in a separate case relating to alleged selling of fake degrees.
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