look news india
Famous Bollywood producer-director Karan Johar has decided to sell half of his stake in his company Dharma Productions and a deal has been made for this, which is worth Rs 1000 crore. This deal will be the biggest ever in the Indian entertainment industry.
Karan Johar, who has given hit films like 'Kuch Kuch Hota Hai' to 'Kabhi Khushi Kabhi Gham' and 'My Name is Khan', has signed this deal with veteran Indian businessman Adar Poonawala.
Made a deal with Adar Poonawala
According to reports, Adar Poonawala's Serene Productions will buy 50 percent stake in Karan Johar's Dharma Productions and Dharmatic Entertainment for Rs 1,000 crore. The deal values film and television production and distribution company Dharma Productions at around Rs 2,000 crore. After the deal is closed, the remaining half stake in the production company will be with Dharma Productions and Karan Johar will be the executive chairman.
Negotiations were going on with several groups
Karan Johar's Dharma Productions has been on the lookout for good investment for some time now and is in talks with several big groups including Sanjiv Goenka-led Saregama and Reliance Industries' Jio Cinemas. The big news is that Adar Poonawala, CEO of vaccine maker Serum Institute, has agreed to buy stake in Dharma Productions.
Founded by Yash Johar
Dharma Productions, founded in 1976 by the late Yash Johar, has emerged as a powerhouse in Bollywood under the leadership of Karan Johar and has produced several hit films. Which includes blockbuster films like 'Kabhi Khushi Kabhi Gham', 'Yeh Jawaani Hai Deewani', 'Kuch Kuch Hota Hai'. More than 50 films have been produced under this production house. Expanding its portfolio, in 2018, Karan Johar's company ventured into digital content with Dharmatic Entertainment and produced shows for global streaming platforms like Netflix and Amazon Prime.
Karan Johar's company Financial Health
According to media reports, this deal of Dharma Productions is happening at a time when its income has increased almost four times. Which has increased to Rs 1,040 crore in FY 2023 compared to Rs 276 crore last year. However, net profit fell 59% to Rs 11 crore due to increased costs. The company earned Rs 656 crore from distribution rights, Rs 140 crore from digital, Rs 83 crore from satellite rights and Rs 75 crore from music.
What did Vaccine King say on the deal?
Adar Poonawala has expanded his business across sectors ranging from financial services, real estate to hospitality and about this new deal he said, I am partnering with my friend Karan Johar in one of the most prestigious production houses of our country. . Together we hope to take the religion forward and touch new heights.