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ARY Communications, ARY Digital to acquire stake in World Call Telecom

ARY Communications and ARY Digital have announced their intention to acquire a 51 per cent stake and management control in World Call Telecom Limited (WTL), one of the leading telecom and multimedia service providers in Pakistan.
ARY Communications and ARY Digital fall under the umbrella of ARY Digital Network, which plans to invest more than $55 million in WTL post-acquisition of the majority stake and management control in the company. The primary focus of investment will be CAPEX based network investments and fiber upgradation to bring WTL back as market leaders in media operations. Moreover, this acquisition will add to the Foreign Direct Investment (FDI) in the country and also create new employment opportunities.
Salman Iqbal, president and CEO of ARY Digital Network, and owner of the Pakistan Super League franchise 'Karachi Kings', said: "Our target is to achieve at least a million subscribers in the metropolitan cities of Pakistan by providing customers with state-of-the-art technologies procured globally with unmatched customer services. We are confident that through this acquisition, this investment by ARY in the telecom space, will help Pakistan solidify its existing footprint in the telecom sector and will enable it to become the regional epicentre of technology."
ARY Communications owns and operates multiple genre TV channels in Pakistan namely ARY Digital, ARY News, ARY Zindagi, ARY Musik, ARY QTV, HBO, and Nickelodeon Pakistan. The company is also involved in the production, distribution and marketing of cinematic films and television productions. ARY Digital is a Dubai-based media company, that caters to South Asian viewers globally through its TV channels. The company is also engaged in the business of broadcast and production support services for films, television, and radio.
- business@khaleejtimes.com