A Delhi-based app developer tried to outsmart the Mukesh Ambani-led Reliance conglomerate, predicting a possible Disney+ entity Hotstar merger with Jio while scrolling through social media feeds in 2023. The domain squatter bought the address https://jiohotstar.com (Jio Hotstar) and posted a deal on the landing page stating how he came to buy the site and his dream—of studying at Cambridge. The techie wrote that since 2021 he has been working on a project that was selected for the Cambridge University Accelerate program. He adds that the Cambridge project was a transformative experience, and now he aspires for a degree in entrepreneurship from the same. The lad wants the Reliance conglomerate to acquire the domain from him, bearing full expense of his academics abroad. The EMBA program costs about 94k GBP, or about Rs 1 crore. However, in the latest update, the developer stated that a Reliance executive, Mr. Ambujesh Yadav, AVP of commercials, reached out to him. The company refused to entertain the deal but rather threatened to proceed with legal action.
Someone bought the JioHotstar domain (before the merger) and wants Reliance to fund their higher studies from domain sale.
Really hope they can get a good payout from this! pic.twitter.com/uBjvgVgqZG— pea bee (@prstb) October 23, 2024
Update. Booo Reliance 👎 pic.twitter.com/VaH6y5Vt2c— pea bee (@prstb) October 24, 2024
In February 2024, the Reliance venture struck a deal with Walt Disney to acquire its Indian properties, merging Star India and Viacom 18. After much uproar over monopolization of the sector, the merger got approval from the Competition Commission of India (CCI). The deal is worth $8.5 billion and will bring much revenue to the company in a cluttered OTT space. Per reports, after the completion of the merger, Star India will take over the management of the newly formed entity, with Reliance holding a majority stake of 56%. Nita Ambani is rumored to be the chairperson of the new venture.
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