ISLAMABAD – Senior leader of Pakistan Tehreek-e-Insaf (PTI) and Punjab Food Minister Abdul Aleem Khan has officially bought the country’s fourth-largest news channel.
Khan, a real estate tycoon and Chairman of the Vision Group is reported to have acquired Samaa TV at a price of Rs 3.56 billion. The ruling party member is reportedly a BOG member of Value TV – registered as Channel 24.
Chairman PEMRA, Mohammad Saleem Baig, chaired the 165th meeting of PEMRA in which the decision was made about the change of management and transfer of shares of Messrs Jaag Broadcasting Systems Limited to Park View Limited a real estate company, owned by Khan and his daughter.
Samaa TV, a media house that has around 7 percent of the country’s television viewers daily, was launched by Zafar Siddiqui back in 2007.
Meanwhile, critiques claimed that PEMRA should seek bank guarantees that the outstanding dues would be cleared. Meanwhile, the company owned by PTI Minister is facing a property-related case while the Islamabad High Court (IHC) had passed a verdict against it.
Amid the above-mentioned controversy, reports also suggested that Samaa incurred a loss of Rs 1,118,348,327 in 2016 bringing its accumulated losses to Rs 11,148,056,624.
Furthermore, Khan’s income mostly comes from Park View Icon, Park View City in Islamabad, Park View Corporate Center at Mall road Lahore, and Park View Signature Apartments at Gulberg Lahore, The National School, and Park View Villas.
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