BOL News Network is a media conglomerate based in Karachi owned by Shoaib Ahmed Shaikh, who also served as the CEO and chairman of the media network. According to Declan Walsh Bol Network was under the auspices of the fake diploma mill Axact. The media group was supposed to incorporate television, digital media, cinema and theatre as well as digital media, but when the parent company of Bol, Axact, was unmasked as a diploma mill selling fake degrees Pakistan Electronic Media Regulatory Authority revoked the licence that it had awarded BOL News, and the network was not even able to start transmission.
Pakistani journalist Kamran Khan was appointed as the editor in chief, but he quit after the Axact scandal surfaced and stated that his conscience did not let him be affiliated with such a network. The BOL News Network was started by Pakistani businessman, Shoaib Ahmed Shaikh in June 2013, and according to him, it was meant to create an independent media house to portray a soft image of Pakistan and several notable journalists joined the network at that time.