- Present Owners, Lakson Group want an out from their media venture, Express
- Will the prospective buyers be from “Another Pakistani Media Group” or will the group be sold to foreign investors?
Amidst various developments in Pakistani media scene, another story that is generating a lot of buzz is of the star-crossed future of Express Media Group, which is reportedly up for sale.
As per the reports Express Media Group, not satisfied with the outcome of their media venture along with the legal and security threats it brought to the ones involved, were looking for potential buyers for a longtime. Express was able to gain more eyeballs and better ratings due to its much talked- about Ramadan transmission due to the inclusion of Dr. Aamir Liaquat Hussain, who brought his loyal fan base among the masses towards the channel.But since after Ramadan transmission, Express Entertainment and Express News both have reportedly noticed major slip in their day-to-day ratings which lead to the owners deciding to sell the channel while the reported ratings are still gold.
The prospective buyers are reported to have meetings with high officials of Lakson Group in UAE, where reportedly two Pakistani media groups, another Arab media group and a UAE-based equity firm have shown interest in bidding for the merger/acquisition. Although this might be a step for a better for Express Media group but not so much for its employees as with all acquisitions, come the downsizing and layoffs. While media is a booming choice of profession in Pakistan currently, layoffs from a media group like Express might stir up a consequent bout of jobless employees in the Pakistani job market.
Time will unveil who the future owners of Express Media will be, but this development in the Pakistani media scene raises the questions in the mind of many about the future of media in Pakistan with the old dogs biting the dust and the newcomers ready to fill the vacuum.