Farhan Akhtar’s Excel Entertainment sells Rs 800 cr stake to Universal Music Group; how it’s different from Karan Johar’s Rs 1000 cr Dharma deal | Bollywood News
On Monday, Dutch-American music giant Universal Music Group acquired equity in Farhan Akhtar and Ritesh Sidhwani’s production house Excel Entertainment in Indian entertainment’s biggest minority stakes deal. That prompted many on the internet to compare it to much-talked about equity deal between Adar Poonawalla-led Serene Productions and Karan Johar’s banner Dharma Productions two years ago. However, both the deals are significantly different on multiple fronts. Serene Productions acquired a majority stake in Dharma Productions at 50% of the company’s stakes. That allows Poonawalla equal ownership and control over Dharma Productions as its existing co-owners — Executive Chairman Karan Johar and CEO Apoorva Mehta, in that order. On the other hand, the extent of equity that UMG holds in Excel Entertainment is only a minority one, at 30%, after the deal. Karan Johar’s Dharma sold 50% stake for Rs 1,000 cr Johar opted for a majority deal because he wanted a hefty amount in return. While Dharma Productions was initially also in talks with Reliance for the equity deal, they ultimately went ahead with the company …
