Adar Poonawalla’s Serene Productions has entered into a strategic agreement to acquire a 50% stake in Karan Johar’s Dharma Productions and its digital content arm, Dharmatic Entertainment, for ₹1,000 crore. Karan Johar will retain 50% of his remaining ownership and continue as the executive chairman, while Apoorva Mehta will remain the production house’s chief executive officer.
Strategic Partnership to Expand India’s Entertainment Industry
The partnership aims to leverage Dharma’s storytelling legacy and Poonawalla’s strategic expertise to capitalize on India’s rapidly expanding entertainment industry, which has seen significant growth driven by increasing digital penetration and diverse audience demands. The collaboration intends to transform content creation and distribution by integrating advanced technologies and pioneering production techniques, positioning Dharma Productions as a major player on the global entertainment stage.
Statements from Key Players
Adar Poonawalla said, “Partnering with one of India’s most iconic production houses, coupled with my friend Karan Johar-this is an opportunity that really excites me-to take Dharma to way more strength in the years to come as an entertainment powerhouse.”
Karan Johar termed the alliance as one which would be a defining partnership for his father’s dream of Dharma Productions: “My father had envisioned making films that strike a deep chord with the audience, and this partnership ushers in a new era to that effect at Dharma. Along with Adar, a close friend of mine, also a visionary himself, we shall take the legacy of the company to yet another high and take forward the momentum of our quest for newer vistas in telling stories.”
Commenting on the timing of this collaboration, Dharma CEO Apoorva Mehta said that the company’s need to evolve its content strategy could not have been more opportune. “This alliance marks our endeavour at bringing Indian cinema and streaming content to the world stage, which is enabling us to take larger creative strides in different directions with respect to content creation.”
Impact on India’s Entertainment Landscape
The deal represents a transformative move for India’s entertainment sector, bringing together profound legacy into film production with far-sighted business strategies to meet the demands of a digitally savvy audience. Serene Productions and Dharma are committed to compelling narratives across cinema, streaming, and emerging platforms that shape the future of entertainment for a global, digital-first audience.
Advisors and Legal Counsel
The Raine Group acted as exclusive financial adviser to Dharma Productions in respect of this transaction, while AZB & Partners acted as legal counsel to Dharma. JSA acted as legal counsel to Serene Productions.
This partnership is very likely to further strengthen India’s position in the global entertainment industry, opening the doors to new content opportunities and expanded international reach.
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Source: Moneycontrol
News Desk
