Entertainment conglomerate Yash Raj Films (YRF) has withdrawn its over 10-year-old distribution deal with filmmaker Karan Johar's Dharma Productions, saying it is a "purely business decision".

"As always, Dharma Productions had offered some films to us. However, at this point in time we have taken a conscious decision not to acquire any films but to only produce and distribute our own," Rafiq Gangjee, vice president (Marketing and Communication) at YRF, told us over telephone.

YRF's association with Johar dates back to the director's first movie 'Kuch Kuch Hota Hai' in 1998. It has since then been distributing all of Johar's productions, including 'Kabhi Khushi Khabie Gham', 'Kabhi Alvida Naa Kehna' and 'Dostana'.

The distribution rights of the his forthcoming films 'Wake Up Sid' and an untitled Rensil D'Silva project starring Kareena Kapoor, Vivek Oberoi and Saif Ali Khan, were also offered to the company. But the deal did not materialise and was instead sealed with Ronnie Screwvala's UTV Motion Pictures on Monday.

Regarding his association with UTV, Johar said in a statement: "I have known and been in touch with Ronnie for a long time and I am glad I am finally getting a chance. His passion and sensibility towards understanding cinema is exceptional and I am looking forward to working with his company."