New Delhi: Yahoo has turned off its website in India because the rules of new foreign direct investment (FDI) which limit foreign ownership of media companies that operate and publish digital content in India.
This includes Yahoo news, Yahoo Cricket, Finance, Entertainment, and Indian Makers.
However, this will not affect Yahoo user e-mail, and look for experiences in India.
“On August 26, 2021 Yahoo India will no longer publish content.
Your Yahoo account, mail and search experience will not be affected by any way and will operate as usual.
We thank you for your support and notification,” Notice about the word site Yahoo web.
US Tech Major Verizon has acquired Yahoo in 2017.
In the FAQ section, Yahoo said effective August 26, 2021, the company has stopped the publication of content in India and has turned off Yahoo content operations in this country.
“We did not arrive at this decision lightly.
However, Yahoo India has been affected by changes in regulatory laws in India which now limit foreign ownership of media companies that operate and publish digital content in India.
Yahoo has had a long relationship with India and We are really proud of the premium, our local content has provided our users here for the past 20 years, “he said.
It added that given that Yahoo Cricket has a ‘news’ component, “it was influenced by new FDI regulations that limited foreign ownership media companies that operate and publish digital content in India in the’ current news” room.
Thanking all users in India for “support and trust” for the past two decades, he noted that it remains “open to opportunities that connect us to users here”.
In accordance with the new FDI regulation that will apply in October, digital media companies in India can receive an investment of up to 26 percent in the form of foreign investment, subject to approval from the central government.
“If you are a Yahoo email user, this change does not affect you in any way.
This development does not have an impact on our products Mail Yahoo and Yahoo search, where we will continue to serve users in India as before, without change,” it said.