Karan Johar Sold Off His 50 Percent Stakes in Dharma Productions.
The news of Adar Poonawala buying more than 50 percent stakes in Dharma Productions has taken the Indian Entertainment industry by surprise. The rumours had it that music label Saregama was about to procure the stakes in Dharma Productions. However, Adar Poonawala’s Serene Entertainment has acquired a 50 per cent stake in Dharma Productions for Rs 1,000 crore,
“Today, as we join forces with Adar, a close friend and an exceptional visionary and innovator, we’re poised to elevate Dharma’s legacy to new heights. This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies. It’s about honouring our roots while embracing the future of global entertainment. Dharma’s journey has been remarkable, and this collaboration opens up a world of possibilities for creating content that will resonate across borders and generations,” Karan Johar said in a statement to the media.
It is more likely that Karan Johar will still have a say in calling shots of creative affairs. However, this was not made official yet.
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