BIG win for Mukesh Ambani, Dubai-based siblings to transfer Jiohotstar.com domain to Reliance for...

Dubai-based siblings Jainam and Jivika, the owners of jiohotstar.com domain, have decided to transfer it to Reliance "free of cost", resting speculations on social media platforms. The story of the internet domain name, which grabbed a lot of attention on social media platforms in the recent past, ended with "seva and kindness", according to the duo.

The unique website ID was said to have been initially registered by a Delhi-based app developer last year amid speculation about the potential merger of Reliance Jio and Disney Hotstar.

Last month, the developer came up with the demand for funding his higher studies at the Cambridge University in return of the domain's ownership transfer, days after Reliance Jio and The Walth Disney formally announced the merger of their media businesses.

Later, the Dubai-based siblings purchased jiohotstar.com domain from its registered owner. According to industry observers, the domain was sold to Dubai-based siblings after Reliance declined his offer.

The siblings now shared an update, saying the Reliance IP Legal team approached them and the duo has decided to pass the ownership to them (Reliance), hoping that it would be "useful for them".

"Reliance IP legal team has approached us, and we will be transferring this domain to them, free of cost," they said in a message on the website.

"There have been some rumours online suggesting that there is a payment or deal involved, but we want to make it clear -- this is not true," the message said.

Moreover, the duo in his video also clarified there is "no pressure from anyone" and denied of having a "deal of any kind".

"This is purely a transfer of the domain from our side because we believe it could be useful for them. Whether or not they choose to use it is up to them," the message added.

PTI reached out to Reliance for its comment on the development but did not receive any response.

In their previous message, the siblings said they had received numerous offers, including some genuine ones offering significant amounts. However, they had said that the domain was not for sale.

While announcing the "journey with jiohotstar.com is coming to an end”, the duo said they are waiting for a draft from the Reliance legal team for the transfer.

"The Reliance IP legal team has contacted us. We have told them that the domain transfer will only happen after the agreement is signed. They have asked us to visit Mumbai to sign the agreement," they said, expecting the agreement to be signed soon.

"As soon as this happens, we will transfer the domain and this website will come to an end," the message said.

Reliance had last week announced completion of the merger of its media assets with the India business of global media giant The Walt Disney, forming a joint venture worth around Rs 70,352 crore (USD 8.5 billion).

The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson.

(Except for the headline, this story has not been edited by DNA staff and is published from PTI)