Mukesh Ambani's Reliance Industries (RIL) is in talks to buy a stake in Bollywood film director Karan Johar's Dharma Productions. The Economic Times (ET) gave this information in a report citing people familiar with the matter.
The deal will strengthen the company's position in the Indian materials manufacturing industry with businesses ranging from oil to telecommunications. However, there is no information on how much stake RIL can buy in Dharma Productions through this deal.
Karan Johar owns 90.7% stake in Dharma According to reports, Karan Johar has been looking to sell some stake in Dharma Productions for some time now, but some of the earlier deals have not been finalized due to disagreements over valuation.
Karan owns 90.7% stake in Johar Dharma and his mother Heeru owns 9.24% stake. This production has produced many popular Bollywood firms.
Widespread financial challenges facing the Hindi film industry The strategic partnership with Dharma Productions reflects the broader financial challenges facing the Hindi film industry, including declining theater attendance and changing consumer preferences due to the growing popularity of over-the-top (OTT) platforms.
Jio Studios earned ₹ 700 crore in FY24 The potential stake purchase will boost Reliance's content production portfolio, which currently has some stake in Jio Studios, Viacom 18 Studios, Colosseum Media and Balaji. Jio Studios grossed Rs. Earned 700 crores. However, no official information has been given by Dharma Productions and Reliance Industries regarding any such deal.
Reliance is India's largest private sector company Reliance is India's largest private sector company with a market cap of Rs 1855393.96 crore. Reliance currently operates in hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewable energy (solar and hydrogen), digital services and retail sectors.
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The government has approved the transfer of the license of non-news and current affairs television channels of Viacom18 Media Pvt Ltd to Star India Pvt Ltd. The approval has been granted as per the terms of the merger put forward by the Competition Commission of India (CCI).
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Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
