It has been widely reported that Karan Johar's Dharma Productions will now be acquired by Saregama India which is part of RP Sanjiv Goenka Group. Saregama India is in talks to acquire a majority stake in Karan Johar's Dharma Productions.
Amid speculations over Dharma Productions' acquisition by Saregama, Karan Johar announced on Monday to stop all pre-release screenings. In a statement, Karan Johar said he has taken the "difficult decision to maintain the cinematic experience for all".
'This decision has been difficult': Amid Saregama acquisition reports, Karan Johar stops pre-release screenings of Dharma's upcoming films
Karan announced stopping the pre-release screenings on Monday through a statement. The statement by the production house was signed by Karan and Apoorva Mehta. It was addressed to "dear members of the media".
"For years, rather decades, you have firmly stood by us at Dharma Productions, supporting our films, sharing our dreams, and celebrating our victories. Your faith in us has been a driving force throughout our journey, and we'd like to take this moment to extend our deepest and heartfelt gratitude to you all. Each coverage, review, and feedback has been invaluable to us, and they have undeniably helped us make our films reach audiences far and wide," read the note.
The statement further stated, "As we continue to evolve, we find ourselves at a juncture where we must adapt and innovate our approach. After much deliberation, we've unanimously decided to forgo pre-release screenings for our upcoming films. This decision has been difficult to make, however, we believe it's a necessary step in ensuring that every viewer, including our friends in the media, witness our stories as they were meant to be experienced. We believe it will help maintain the cinematic experience's excitement for all."
"Having said that, we understand the importance of timely reviews and the role they play in the success of our films. Therefore, we are pleased to announce that we will be hosting press screenings for each of our movies in the first half of the release day. We warmly welcome all media personnel to join us at these screenings, where you will be the first to witness our latest offerings (sic)," the note said.
Saregama issues clarification on buying a majority stake in Karan Johar's Dharma Productions
Saregama India issued the clarification after a news item, captioned 'Amid box office jitters, Saregama eyes majority stake in Dharma Productions', in a business daily claimed a deal was in works with the Karan Johar-owned company.
The leading player in the music industry informed the bourses that it will make appropriate disclosures in compliance with applicable laws, as and when required.
In a stock exchange filing, Saregama India said that the company "evaluates various strategic opportunities in the ordinary course for growth and expansion of its business but at this stage, there is no material evidence".
Dharma's recent projects include Kill, Bad Newz, Yodha and Mr & Mrs Mahi and now Jigra, starring Alia Bhatt released this week.
