In October 2020, Bollywood Hungama had exclusively reported that Lyca Productions, one of the biggest productions down South, was all set to enter Bollywood to produce Hindi language films. In December 2020, we also broke the news that Dharma Productions, owned by Karan Johar, is all set to collaborate with Lyca. Karan had a pretty stable association with Fox Star Studios and both collaborated on multiple projects. But after Fox group was taken over by Walt Disney, the latter decided to stop greenlighting new films in India. Karan was looking for a studio partner and that’s when he began talks with team Lyca. Both had collaborated in the past with Rajnikanth-Akshay Kumar starrer 2.0 (2018). Directed by Shankar, this sci-fi biggie was presented in the Hindi market by Dharma Productions.
And now the latest buzz is that sadly, the deal has fallen through. A source says, “Lyca Productions has backed out of the deal with Dharma Productions. No one exactly knows the reason behind it as only the top honchos were involved in all the discussions. But the deal is not happening.”
Bollywood Hungama had also reported in January 2021 that Karan Johar was in talks with Gautam Adani’s Adani Group to sell 30% stake of Dharma Productions. But after advanced talks, there have been no word on the outcome of the negotiations. “The talks did happen but there has been no update on it,” said the source.
An industry insider says, “Karan Johar at least has Fox-Disney’s backing for Brahmastra, which will be their last film in Bollywood. But for Karan’s upcoming films like Shershaah, Dostana 2, Jug Jugg Jeeyo, Liger, Shakun Batra’s next and Shashank Khaitan’s next, he’ll require the support of some studio. It remains to be seen who comes on board.”
However, it’s not a crisis situation at Dharma at all. The insider reveals, “Karan Johar is one of the most successful filmmakers at present. Most of his films work big time. I am sure he’ll soon get a partner and that’ll ease his woes to a great extent.”
We reached out to Aashish Singh of Lyca Productions but he was unavailable for comment.
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