Verizon Media has decided to shut down Yahoo India operations due to a change in rules limiting foreign funding to more than 26% of digital news media outlets.
Yahoo India will no longer publish content from August 26, 2021.
American web service provider Yahoo on Thursday, August 26, shut down some of its services in India, which has stopped the publication of content through Yahoo across the country. However, the web portal owned by tech company Verizon Media assured its users that their Yahoo account, e-mail and search experience will not be affected in any way.
Yahoo has shut down its news websites in India due to new Foreign Direct Investment (FDI) rules limiting foreign ownership of media companies that operate and publish digital content in India. This includes Yahoo News, Yahoo Cricket, Finance, Entertainment and Makers India. The Yahoo website said in a notice, “With effect from August 26, 2021, Yahoo India will no longer publish content. Your Yahoo account, mail and search experience will not be affected in any way and will work as usual. We thank you for your support and readers.”
According to the FAQ on the Yahoo website, the company has decided to stop publishing all content in India, closing Yahoo’s content operations across the country. “The company’s operations in India have been affected by recent changes to the country’s regulatory laws, which now limit foreign ownership of media companies operating and publishing digital content in India,” Yahoo said.
Verizon Media has decided to shut down Yahoo India operations due to a change in rules limiting foreign funding to more than 26% of digital news media outlets. US tech major Verizon acquired Yahoo in 2017. The new IT regulations mean that Yahoo India will have to restructure its entire media business within a fixed timeline to operate the news and current affairs business in the country.
Thanking all its users in India for their “support and trust” over the past two decades, Yahoo reiterated that this change does not affect Yahoo Mail and Yahoo Search. It said, “Yahoo will continue to serve Yahoo users in India as before, without any changes.”
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