"Some of it is exaggerated. Like stories about rivalry between me and Mr Bachchan," Khan told the audience at the Hindustan Times Leadership Summit in New Delhi on Saturday.
The actor said the new, nascent media was offering a log of jobs and the people who were being recruited did not have a good idea of what should be done. However, Khan added that a lot of the reportage also made people in politics as well as in the entertainment world more accountable.
"I have used media for my gains time and again. Now, I can't complain that they are using me. We have a synergy here. We go along hand-in-hand," admitted the superstar.
The actor, who will next be seen in the Farah Khan-directed Om Shanti Om, also rubbished the idea that his new and fitter avatar was a result of any fear of the newcomers in Bollywood. "I am trying to play a young, 2007 film star who has six pack and long hair. I was under no pressure (from the younger actors)," he said responding to a question on the motivation for building his body.
"If you think I am scared of being dethroned as the King of Bollywood, I would say shut up," Khan said.
The superstar added that he was not keen to join the list of Indian actors looking for international exposure, and said that he would prefer to get an Oscar that is by India and for the world.
The screen icon admitted that he has never been approached by any Hollywood filmmaker, but said he believed that working in the West could not be a pre-requisite or requirement for an actor to be considered good.
"I don't think working in Hollywood is going to make me a better actor," Khan said. He said he was tired of attending the likes of Oscars and the Cannes Film Festival and promoting Indian cinema there. His dream, said Khan, was to, "get an Oscar by India, in India for the world. And I hope that comes through."
"I would rather rule in hell than serve in heaven," added Khan in his trademark style.
The Bollywood star expressed confidence that the Indian film industry could go global if it spruced up its infrastructure and brought about changes in the format of the films by shortening them to a length of around one-and-a-half hours.
Khan, however, said songs and dance should be retained they were the USPs of Indian films.
The superstar said that he was not in favour of banning smoking or drinking scenes in films, saying films have to reflect the reality. "Films do reflect the reality. And if you are playing a bad guy, you need to look bad," Khan said.
Asked what he would like to do if he was given the chance to run the country for a day, he said: "I want to make public utilities and amenities for women all over the country. I have tremendous amount of respect for women. "When I am driving through smaller towns, I see there are no amenities for women where they can have some privacy."
