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Yash Raj Music to shut down?
Posted on: 27-03-2009 , 04:: | DY365 Bureau

Yash Raj is starting to feel the bite of the recession. Last week, they shut down their overseas distribution arm. And it is now believed that they are planning to shut their music company as well.

A source at YRF revealed to Mid Day, "Karan Johar dealt a big blow by selling off the distribution rights to two of his films to UTV. The first reaction was shutting down the overseas operations in UK and US. They have called their managers back to India."

A source in the industry however says, "Distribution has not been the only sector Yash Raj is shutting down completely. They are now seriously contemplating on closing their sister concern, Yash Raj Music. The cost of running operations has skyrocketed and the music company has been in serious financial doldrums with hardly any profits.

It is also believed that Yash Chopra himself has been instrumental in shutting down their music company. Earlier, the Chopras would get hefty amounts from music companies for their films' music but that stopped when they began their own music company, add to that advertising and promotional costs.

It was not a wise business decision. Now they've decided to go back to music companies and not only get paid, but also get them to promote their films on TV and hoardings." Vijay Kumar, the head of Music Operations at YRM, however, denied the development. 


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