Yahoo close down news operations in India after new FDI rules, check details
By Sanjay Maurya
News Highlights
- On August 26, Yahoo announced the closing of its news operations in India. From Thursday onwards, it will not post any new content.
- Yahoo Account, Mail, and Search experiences will be unaffected and will continue to function normally.
- The operations of the business in India were damaged by recent changes to the country’s regulatory laws.
Yahoo close down news operations in India after new FDI rules, check details
Yahoo News is a news website that started as an internet-based news aggregate. Brad Clawsie, a Yahoo software engineer, established the site in August 1996. News agencies such as the Associated Press, Reuters, ABC News, USA Today, Fox News, Al Jazeera, CNN, and BBC News contributed to the articles.
On August 26, Yahoo announced the closing of its news operations in India. From Thursday onwards, it will not post any new content. Yahoo Mail will not be affected by the shutdown, according to the company. Yahoo Cricket, Finance, Yahoo News, Entertainment, and MAKERS India were among the services that were shut down on August 26. In India, these websites will no longer be accessible. Verizon Media, an American technology company, purchased Yahoo in 2017.
Yahoo India will stop publishing news from August 26th, 2021, according to a statement on the Yahoo India homepage. Your Yahoo Account, Mail, and Search experiences will be unaffected and will continue to function normally. We appreciate your readership and support, Yahoo said.
Why Yahoo is Shutting Down News Operations in India?
The operations of the company in India were damaged by recent changes to the country’s regulatory laws “which now limit the foreign ownership of media organizations that operate and publish digital content in India,” according to Yahoo.
Due to the change in rules limiting foreign investment of more than 26% in digital news media outlets, Verizon Media decided to shut down Yahoo India’s activities. According to the new IT laws, Yahoo India would have to restructure its whole media operation within that timeframe to operate the country’s news and current affairs business.
Yahoo has a long history in India, and we’re grateful for the premium, local content we’ve delivered to our consumers over the last two decades. Thank you for your continued strong support in our brand,” it wrote, “Please note that if you use Yahoo Mail, this change has no impact on you.” This development has no effect on our products Yahoo Mail and Yahoo Search, which will continue to serve Indian users in the same manner as previously.
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