New Delhi, August 26 (KMS): Yahoo has shut down its news websites in India due the new foreign direct investment (FDI) rules that limit foreign ownership of media companies that operate and publish digital content in India.
The company closed the offerings including Yahoo News, Yahoo Cricket, Finance, Entertainment and MAKERS India from Thursday (today). These websites will no longer be accessible in India. American technology firm Verizon Media bought Yahoo in 2017.
“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,” a notice on the Yahoo website said.
In the FAQ section, Yahoo said effective August 26, 2021, the company has ceased publication of content in India and has shut down Yahoo’s content operations in the country.
As per the new FDI regulations that will come into effect in October, this year, digital media companies in India can accept up to 26 per cent investment in the form of foreign investment, subject to approval from the Indian government.