n a move marked by generosity, Dubai-based siblings Jainam and Jivika have announced the transfer of ownership of the domain jiohotstar.com to Reliance ”free of cost”. Their decision has finally put widespread speculation on social media to rest related to the domain’s future. The siblings described their actions arising from ”seva and kindness” and concluded the issue around the internet.
All about the domain jiohotstar.com
Initially, the domain was registered by a Delhi-based app developer last year amidst rumours of a potential merger deal between Reliance Jio and Disney Hotstar. After the formal announcement was made, the developer reportedly wanted to generate funds for his higher studies at Cambridge University in exchange for the domain’s ownership. However, Reliance rejected the offer, leading to the siblings purchasing the order from its original owner.
As per the latest update, Jainam and Jivika disclosed that the Reliance IP legal team has approached them for the transfer of the domain. Despite receiving attractive offers from others, the siblings decided to transfer the domain to Reliance without demanding any monetary gains from it. ”There had been rumours about the payment or deals but it is also false,” the duo clarified through a message on their website. They asserted that their decision was voluntary and had not been made under any pressure. ”This is purely a transfer because we believe it could be beneficial for them”.
Deal is in final stage
The siblings are now awaiting a draft agreement from Reliance’s legal team. Once the deal is signed, the domain transfer will be finalized. Both of them have also confirmed their intention to visit Mumbai for all the formalities and mentioned, ”As soon as the deal gets finalized, we will transfer the domain and this website will come to an end. ”
The development comes in between Reliance’s announcement of finalizing its merger with The Wat Disney’s India business. The joint association is valued at RS 70,352 crore and is all set to become a media giant in India, as the joint revenues are around Rs 26,000 crore. Nita Ambani will take the position of chairperson of this newly formed entity.
(With inputs from PTI)
