Yahoo shuts news sites in India over FDI norms for digital media
IANS
Aug 26, 2021 10:35
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New Delhi, Aug 26 (IANS) Yahoo India has shut its news sites including Yahoo Cricket, Finance, News Entertainment and MAKERS India over the new FDI regulations for digital media ownership.
The new FDI regulations for digital media limit foreign ownership of media companies that operate and publish digital content in India in the 'News and Current Affairs' space.
Yahoo India, however said that Yahoo Mail and Yahoo Search will continue to be functional.
"Effective August 26, 2021, we have ceased publication of content in India and have shut down Yahoo's content operations in the country. The content offerings closed include Yahoo News, Yahoo Cricket, Finance, Entertainment and MAKERS India," said the Yahoo India website.
Noting the company did not arrive to the decision lightly, it said: "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."
Acknowledging its long association with India, the company said that it remains open to opportunities which connect it to the users here.
"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. Once again, thank you for your support and trust in our brand," it said.
