Yahoo shuts down its news websites, digital content in India due to change in FDI rules

Yahoo has shut down its news websites in India due to new FDI laws prohibiting foreign ownership of media firms that manage and publish digital content in India.
Yahoo News, Yahoo Cricket, Finance, Entertainment, and MAKERS India are all part of this. This, however, will not have any impact on users' Yahoo e-mail or search experiences in India.

The notice on the Yahoo website read: "As of August 26, 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." 

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The notice further said the decision did not come lightly. It said changes to regulatory laws in India had impacted Yahoo India, and Yahoo has had a long association with India. It is proud of the premium, local content they have provided the users for the last 20 years. Verizon, a large US technology company, purchased Yahoo in 2017.

It went on to say that because Yahoo Cricket contains 'news,' "it was impacted by the new FDI laws that ban foreign ownership of media firms that manage and distribute digital content in India in the 'News and Current Affairs' area." It thanked all of its Indian customers for their "support and confidence" over the last two decades and stated that it is "open to initiatives that link us to people here."

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According to the new FDI laws, which will go into effect in October, digital media firms in India can take up to 26% foreign investment, subject to clearance from the central government.
Yahoo stated in the FAQ section that the firm has discontinued publishing material in India and has shut down its content activities in the nation as of August 26, 2021.

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