Pakistan's Geo News' executive editor Hamid Mir was injured in an attack by gunmen in Karachi Saturday while on his way to his office from the airport, Dawn online reported.
The doctors treating Mir has said that he is now out of danger.
The Pakistani government has been asked to provide security to journalists since there have been cases earlier of similar attacks.
The police have managed to prepare sketches of the assailants with the help of three eyewitnesses.
An investigation committee has also been formed to probe the attack.
Sindh Information Minister Sharjeel Memon announced that the provincial government would award Pakistani Rs.50 million to those who assist the police in hunting down Mir's assailants.
The attack took place when four gunmen riding on two motorcycles opened fire on Hamid Mir's car Saturday as he was on his way from the airport to his Geo News office.
Mir received two gunshots and was immediately taken to hospital in an unconscious state.
Pakistan President Mamnoon Hussain condemned the attack and expressed regret at the incident.
Messages of condemnation are circulating on social media as well.
Geo News Islamabad bureau chief Rana Jawad said Hamid Mir spoke to him after being attacked and said that the gunmen were following him and continued to fire at the car.
The driver of the car said that a single attacker had opened fire and had targeted Hamid Mir, Geo News reported.