The recent reports about Saregama being set to acquire major stake in Karan Johar’s Dharma Productions has made a lot of heads turn in the industry and outside. Now, as per sources close to exchange4media, Saregama’s stake is said to value the company at Rs. 600 crores. It was also reported that Dharma reached out to Saregama for the same.
Blockbuster Deal: Is Saregama eyeing Dharma Productions for Rs. 600 Crores? The Industry Is Buzzing!
The report also mentioned that, as per industry observers, the music label may acquire more stake in Karan Johar’s firm in the future. In August this year, the publication reported that Dharma Productions is looking for a suitor.
The deal with Dharma Productions will be Saregama’s second big acquisition after they took over the digital platform Pocket Aces in FY2024. As per exchange4media, Saregama initially acquired a stake of 51.8% for Rs. 175 crores and it later acquired the remaining percentage at Rs. 385 crores.
The publication also stated that Saregama’s interest in Dharma Productions arose due to the latter’s rich legacy in Bollywood and their recent expansion into digital content and talent management. It also stated that this development has taken place amid Dharma’s decline in profit from Rs. 27.1 crores in FY22 to Rs. 10 crores in FY23. The publication got this financial data from Tofler.
Meanwhile, Saregama declared Rs. 866 crores in revenue of operations and Rs. 197 crores in net profit in FY24.
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