New Delhi: Yahoo on Thursday announced that it has shut down its news websites in India which include Yahoo News, Yahoo Cricket, Finance, Entertainment and Makers India.
However this will not affect Yahoo Mail users. Yahoo said the development does not affect its products Yahoo Mail and Yahoo Search. Yahoo said that it will continue to serve users in India as before, without any changes.
“Yahoo India will no longer publish content from August 26, 2021. Your Yahoo account, mail and search experience will not be affected in any way and will function as usual. We thank you for your support and readers,” but one Notice Yahoo website said.
In the FAQ section, Yahoo said that effective August 26, 2021, the company has ceased publishing content in India and Yahoo’s content operations in the country.
“We did not take this decision lightly. However, Yahoo India has been affected by changes in regulatory laws in India that now limit foreign ownership of media companies that operate and publish digital content in India. And we’re really proud of the premium, local content we’ve been providing to our users here for the past 20 years.”
It said that given that Yahoo Cricket has a ‘news’ component, “it was affected under the new FDI rules that limit foreign ownership of media companies that enter the ‘news and current affairs’ space in India.” operate and publish digital content.”
According to the new FDI rules that will come into effect in October, digital media companies in India can accept up to 26 per cent of foreign investment as foreign investment, subject to approval from the central government.