Amid Take Over Rumours Of Karan Johar's Production, Their Twitter Bio Goes Viral!

Take Over Rumours Of Karan Johar's Production

Ever since Saregama, a part of Goenka group reportedly bought the production house and Mukesh Ambani’s reliance reportedly bought a minority stake, the Twitter bio of Dharma has stirred interest among public. The bio still mentions Karan as the ‘owner’. “Jigra o, ab ki teri baari oh!❤️ Owned by Karan Johar & CEO Apoorva Mehta,” the bio text reads. 

This comes after social media, especially Reddit, was flooded with reactions to takeover reports of Dharma’s and also from a report that says Reliance is keen on acquiring stake in Dharma Productions. Earlier, RIL got a small stake in Balaji. On similar lines, it has emerged that a similar structure could be followed with Dharma. The report goes further to say that Dharma Productions, which is 90.7% owned by Karan Johar, and 9.24% by his mother Hiroo Johar, is on the look for strategic alliance.

Media baron and RP-Sanjiv Goenka Group’s Saregama failed earlier due to valuation disparities, but Karan Johar has been trying to find new methods of funding for years “They were seeking a $500 million IPO to monetise his stake and kicked the tyres on selling Dharma Productions to Saregama but those deals fell apart due to valuation problems,” the same source said.

But as per the Mint report the deal has not move to the final stage and may fail. But a rise in production costs, declining theater business, and the shift towards OTT platforms have brought new challenges for the production houses, including Dharma.