On the 26th of August, Yahoo India news sites were shut down in India. The news was confirmed by Yahoo India, through their official Twitter handle on Thursday morning.
The tweet posted by Yahoo, read, “Yahoo India will no longer be publishing content.”
In addition, a notice was also posted on the official website of Yahoo India. The notice on the website read, “As of August 26th, 2021 Yahoo India will no longer be publishing content. Your Yahoo Account, Mail and Search experiences will not be affected in any way and will operate as usual. We thank you for your support and readership.” The notice further read, “We did not come to this decision lightly. However, Yahoo India has been impacted by changes to regulatory laws in India that now limit the foreign ownership of media companies that operate and publish digital content in India. Yahoo has had a long association with India and we’re really proud of the premium, local content we have provided our users here for the last 20 years.”
The major reason behind the shut down of news sites like Yahoo Cricket, Yahoo Finance, Yahoo News, Entertainment and others is the new Foreign Direct Investment (FDI) rules of India. According to the new FDI rules announced in May 2021, foreign funding that exceeds more than 26 % in digital news media outlets is prohibited in India.
Although the news sites of Yahoo are shut in India, Yahoo Mails and Yahoo Search are said to be unaffected. With this, Yahoo India extended gratitude to their readers and assured them of serving their Indian audience with Yahoo Mails and Yahoo Search.
With the new FDI rules in order, Yahoo had to shut down it’s news websites’ operations in India. It is to be noted, in 2017, Yahoo was acquired by an American company, Verizon Media. The company owns majority of shares of Yahoo and runs it’s news website in India.
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