Yahoo shuts down news operations in India due to FDI regulations
The company, however, assured users that their Yahoo accounts, e-mail, and search experiences will not be affected in any manner
American web services provider Yahoo shut down its content services in India on August 26. Verizon Media, the company that owns Yahoo, took the decision due to the new FDI regulations that prohibit foreign funding of more than 26% in digital news media outlets. The content offerings closed include Yahoo News, Yahoo Cricket, Yahoo Finance, Entertainment, and MAKERS India.
The company, however, assured users that their Yahoo accounts, e-mail, and search experiences will not be affected in any manner.
"As of August 26th, 2021, Yahoo India will no longer be publishing content," a statement on the Yahoo India homepage read. "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."
"We did not come to this decision lightly," Yahoo said, adding that the company's operations in India were impacted by the recent changes to the country's regulatory laws "that now limit the foreign ownership of media companies that operate and publish digital content in India."
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