Amid reports of Reliance and Saregama acquisition, Karan Johar’s Dharma Productions’ Twitter bio grabs attention: “Owned by…” | Bollywood

Would the true Dharma owner please stand up?

Amid reports of Goenka Group’s Saregama taking over the production house and Mukesh Ambani’s Reliance acquiring a minority stake, Dharma Productions’ Twitter bio has caught the attention of film buffs. In the bio, Karan is still listed as the “Owner.”

“Jigra o, ab ki teri baari oh!❤️ Owned by Karan Johar and CEO Apoorva Mehta,” the bio reads. This came after social media, especially Reddit, was flooded with reactions to Dharma’s takeover reports.

An Economic Times report quoted a source as revealing that Reliance is eyeing a stake in Dharma Productions. “In the past, RIL acquired a minority stake in Balaji. A similar structure could be followed with Dharma,” another source said, quoted by the Economic Times.

The report adds that Dharma Productions, which is 90.7% owned by Karan Johar and 9.24% owned by his mother Hiroo Johar, is actively seeking strategic partnerships. “Karan Johar has been looking at ways to monetize his stake for some time, but previous deals fell through due to valuation issues,” a source familiar with previous negotiations told Economic Times.

Who buys Dharma anyway?

Last week, reports had also surfaced that Saregama, owned by RP Sanjiv Goenka Group, had acquired Dharma Productions. However, a Mint report claimed that the deal has not yet reached its final stages and may not materialize.

Dharma Productions is one of India’s leading film production companies, founded in 1979 by Yash Johar. The company has produced numerous blockbusters in various genres including romance, drama and family entertainment. After Yash Johar’s death in 2003, his son Karan Johar took over and delivered iconic films like Kabhi Khushi Kabhie Gham, My Name Is Khan and Student of the Year.

However, as per ET report, rising production costs, falling theater attendance and growing preference for OTT platforms have created new problems for production studios, including Dharma.

Dharma’s latest release was Jigra starring Alia Bhatt. The theatrical release was lackluster.