Karan Johar would like everyone to know that he's still the owner of Dharma Productions. Thank you very much.
Will the real Dharma owner please stand up
Amid reports of Goenka group's Saregama taking over the production house and Mukesh Ambani's Reliance buying minority stake, the Twitter bio of Dharma Productions has caught movie buffs' attention. The bio still lists Karan as the ‘owner’.
“Jigra o, ab ki teri baari oh!❤️ Owned by Karan Johar & CEO Apoorva Mehta,” reads the bio. This comes after social media, specially Reddit, was flooded with reactions to Dharma's takeover reports.
A report in The Economic Times quoted a source who revealed that Reliance is eyeing to acquire a stake in Dharma Productions. “In the past, RIL acquired a minority stake in Balaji. A similar structure could be pursued with Dharma,” said another source, as quoted by Economic Times.
{{/usCountry}}A report in The Economic Times quoted a source who revealed that Reliance is eyeing to acquire a stake in Dharma Productions. “In the past, RIL acquired a minority stake in Balaji. A similar structure could be pursued with Dharma,” said another source, as quoted by Economic Times.
{{/usCountry}}The report adds that Dharma Productions, owned 90.7% by Karan Johar and 9.24% by his mother, Hiroo Johar, is actively seeking strategic partnerships. “Karan Johar has been exploring ways to monetise his stake for some time, but previous deals failed due to valuation issues,” a source familiar with earlier negotiations told Economic Times.
Who is buying Dharma after all?
Last week, reports of Saregama, owned by the RP Sanjiv Goenka Group, taking over Dharma Productions had also surfaced. However, a Mint report claimed that the deal has not reached its final stage and may not go through.
Dharma Productions is one of India's leading film production companies, founded by Yash Johar in 1979. It has delivered numerous blockbusters across various genres, including romance, drama, and family entertainment. After Yash Johar’s passing in 2003, his son Karan Johar took over, delivering iconic films like Kabhi Khushi Kabhie Gham, My Name Is Khan, and Student of the Year.
However, rising production costs, dwindling theatre attendance, and the growing preference for OTT platforms have created new problems for productions studios, including Dharma, as per the ET report.
Dharma's latest release was Alia Bhatt-starrer Jigra. It has had a lacklustre opening at the box office.
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