Yahoo shuts down news sites in India over FDI regulations – The Hindu

Web service provider Yahoo said it is shutting down its news operations in India on August 26 citing new Foreign Direct Investment (FDI) regulations.

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Yahoo will shut down its services including Yahoo News, Yahoo Cricket, Finance, Entertainment and MAKERS India. The change will not affect users of Yahoo Mail and Yahoo Search.

As of August 26, 2021 Yahoo India will no longer be publishing content. Your Yahoo Account, Mail and Search experiences will not be affected in any way and will operate as usual, a statement on Yahoo India homepage read.

The Verizon Media owned company ceased publication of content in the country as the new FDI policy, which will come into effect in October, limits foreign funding of more than 26% in digital news media outlets.

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Yahoo said on its FAQ page it did not come to this decision lightly but has been impacted by changes to regulatory laws in India that limit foreign ownership of media companies.

Answering a question on shutting down of Yahoo Cricket, it explained that Yahoo Cricket has a news component which is why it was impacted under the new FDI regulations.

The company noted that it has a long association with India and remains open to opportunities that connect to users.

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Yahoo shuts down news sites in India over FDI regulations - The Hindu