Disney and Reliance logos.
Credit: Reuters Photo
An app developer from Delhi has bought a domain of JioHotstar, and has written a letter to the multinational conglomerate Reliance Industries Limited asking them to fund his higher studies.
This comes ahead of potential merger of Reliance owned JioCinema and Disney+ Hotstar.
A picture of the letter was posted on social media platform X by a user named 'pea bee'. The app developer, who prefers to remain anonymous signed off with the name "dreamer".
"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!" the caption read.
In the letter posted online, the app developer wrote:
"I came across news piece stating that Disney+ Hotstar was losing daily active users after losing the IPL streaming license, and Disney is considering selling or merging with an Indian competitor."
The letter went on to add that in 2021 one of their projects was selected for Cambridge University Accelerate program but expressed how it was limited in scope.
Further, they added that Cambridge offers a full degree program, however, it is expensive.
"My intention of buying this domain was simple: If this merger happens, I might be able to fulfill my dream of studying at Cambridge," it further read.
However, a new post added under the thread shows that the Reliance has denied the request.
Credit: X/@prstb
Reliance is said to make Disney+ Hotstar its primary streaming platform, as per a recent report by The Economic Times. This move comes after the merger of Star India and Viacom18.
Reliance Industries Limited will replace media streaming service JioCinema with Disney+ Hotstar. Reliance plans to stream the IPL on Disney+ Hotstar from next year.
In August this year, the National Company Law Tribunal (NCLT) approved the scheme of merger of Reliance Industries-owned Viacom 18 Media, the holding company of the group's media and entertainment assets with Star India.
Reliance Chairman Mukesh Ambani had said the mega-merger of media assets of Reliance Industries Limited and Walt Disney marks the beginning of a new era in India's entertainment industry.
The Reliance Industries had previously given a thought to integrate Hotstar into JioCinema. Another proposed idea was to keep both as two separate platforms on the basis of content: one for sports and other for entertainment.
In February, Walt Disney Co and Reliance Industries announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth.
Reliance and its affiliates will hold a 63.16 per cent stake in the combined entity that will house two streaming services and 120 television channels. Disney will hold the remaining 36.84 per cent stake, as per companies' statements.
Competition Commission of India had said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire.
Star will now be the operating company and all the content from Viacom18 will be transferred to Star.
(With PTI inputs)