Following reports that leading music label, Saregama, is eying a major stake in Karan Johar’s Dharma Productions, another potential owner has emerged. Reportedly, Reliance is seeking to take over the production banner, expanding the former’s content production portfolio. Amid the ongoing emergence of acquisition reports, Dharma Productions’ X (formerly Twitter) bio is gaining attraction.
On October 14, an Economic Times report quoted a source close to the matter stating that RIL is in talks to acquire a stake in Karan Johar’s production banner. The source told the publication, “Karan Johar has been looking to monetise his stake in Dharma for some time, but past deals have fallen through due to disagreements over valuation.” Moreover, the report iterated the ownership stake currently in place at Dharma Productions. Reportedly, Karan Johar owns 90.7% and his mother, Hiroo owns 9.24% of Dharma.
Meanwhile, another source close to the matter iterated, “In the past, RIL acquired a minority stake in Balaji. A similar arrangement could be made with Dharma.” Reliance’s content production portfolio currently includes Jio Studios, Viacom18 Studios, Colosceum Media and a minority stake in Balaji. If the deals go through, the move will significantly bolster Reliance’s content production portfolio.
Following the reports, the X bio of Dharam Productions is going viral on Reddit and social media. The current bio of the production banner on the microblogging site reads, “Jigra o, ab ki teri baari oh! Owned by Karan Johar & CEO Apoorva Mehta.”
Currently in dharma production’s bio… damn they gotta clarify
byu/Intelligent-Swan-220 inBollyBlindsNGossip
Recently, it was reported that RP Sanjeev Goenka’s Saregama is eyeing a major stake in the banner. Following this, Saregama had a field day in Dalal Street with its shares surging past 9 per cent in its intraday trade. Subsequently, the music label issued a statement. In the statement, the company stated that they do not need to make any disclosures on the issue as of now as per SEBI regulations.
Also Read: Is Saregama acquiring Dharma Productions? Former’s shares skyrocket amid speculations
The news of the acquisitions comes as Dharma Productions faces increasing monetary challenges. These include fluctuating box office numbers and rising entourage fees, an issue the filmmaker has talked about in several instances. Meanwhile, as per reports, Dharma Productions declared a revenue of 1,044.16 crores in 2022-23, a fourfold surge from the previous year’s revenue of 276 crores. However, the net profit fell 59% to 11 crores due to a 4.5-times rise in expenses at 1,028 crores.
In related news, Dharma Productions announced a halt on all pre-release screenings starting from Alia Bhatt’s upcoming film, ‘Jigra.’ In 2024, the banner bankrolled titles including ‘Yodha,’ ‘Mr and Mrs Mahi,’ and ‘Bad Newz.’