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YRF denies closure of music arm
March 26, 2009 7:20:35 PM IST Bollywood Trade News Network
Few days back there were news doing the rounds that India's premier production house Yash Raj Films (YRF) is going to close its music arm as the conglomerate is hit hard by recession. But now the officials from the house have denied the reports.
YRF's Vice President, Marketing & Communications - Rafiq Gangjee stated, ''It is unfortunate that there are unfounded rumours going around for sometime now that the Yash Raj Films' Music Division and our International operations are shutting down.
There is absolutely no truth in either of these. Neither of these divisions is being closed and they continue to function as usual. However, given the current economic scenario, they have been restructured and right-sized as is happening globally in companies both big and small.
Our current slate of films for the year will be handled by all our existing touch points including YRF Music and our YRF International operations.
We would like to take this opportunity to once and for all put an end to these baseless rumours and request all to desist from reporting such news without prior confirmation from us.''