Dharma-Saregama saga: Consolidation may be filmmaking’s surprise hit

There is no confirmation that RP-Sanjiv Goenka Group’s Saregama is acquiring a majority stake in Karan Johar’s Dharma Productions. The stock has been steadily rising since the rumours first broke in August. In a letter to BSE on Tuesday, the company said, “At this stage, there is no material event/information that requires disclosure.”

Reliance Industries (RIL) Jio Studios and Adani Group, also reported contenders for Dharma, have not made any statements. WhatsApp messages to senior executives in these firms elicited no response. With Rs 1,044 crore in revenues for the year ending March 2023, Dharma is among