Yahoo India has shut down its content activities in India, citing new foreign direct investment (FDI) restrictions that went into effect on August 26. Yahoo News, Yahoo Cricket, Finance, Entertainment, and MAKERS India were among the services that were discontinued on Thursday. In India, these websites will no longer be accessible. Verizon Media, an American technology company, purchased Yahoo in 2017.
The popular media business stated, “The new FDI restrictions for digital media ban foreign ownership of media organizations that run and produce digital content in India in the ‘News and Current Affairs’ arena, impacting our brands Yahoo Cricket, Finance, News, Entertainment, and MAKERS India.”
Beginning on October 15, 2021, digital news media in India must adhere to the country’s 26% FDI guideline. In November 2020, the Union Ministry of Information and Broadcasting stated that enterprises with more than 26% FDI will be required to obtain government approval and reduce foreign participation to 26% within a year.
“This was not an easy decision for us to make. However, Yahoo India has been impacted by changes to Indian regulatory regulations that now ban foreign ownership of media organizations that operate and produce digital content in India,” the company said in a website message.
This, however, will not affect their Yahoo Mail account users or email addresses. “This development will have no effect on your Yahoo Mail account. “Your email address will remain the same,” the business stated. “Yahoo Mail will continue to operate normally in India. To access your Yahoo Mail account, go to https://in.mail.yahoo.com,” it says.
The Verizon-owned media group reiterated, “Yahoo Mail is not covered by FDI restrictions for digital media and is thus unaffected by this move.”
In response to the possibility of resuming operations in India in the future, the media outlet stated, “We’ve had a long affiliation with India, and remain open to options that link us to users here.”
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