If you are a Yahoo Mail user, you might have noticed something strange since yesterday – opening the Yahoo India website no longer provides the latest titbits on sports, entertainment, politics, current affairs, and others. The reason for this bizarre behavior has been provided by the web service provider, which announced that it was shutting down all of its news operations in the world’s second-largest internet market from August 26, that is, today. This includes Yahoo News, Yahoo Cricket, Entertainment, Finance, and MAKERS India.
Yahoo’s sudden decision is the result of the new Foreign Direct Investment (FDI) regulations that restrict the ownership of media companies that operate and publish digital content in the country. Yahoo, owned by US-based tech company Verizon Media, falls under this category. The latest rules prevent foreign funding of more than 36% in digital media companies.
This includes Yahoo Cricket, which is shutting down as well, since it has a “news” component, it falls under the latest FDI regulations, which limited foreign ownership of media companies that operate and publish digital content in India in the ‘News and Current Affairs’ space.
However, do not fear that your email account will face the ax as well since the company has made it clear that your Yahoo account, e-mail, and search experiences will not be affected in any manner.
“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.
On its FAQ page, the company said, “Effective August 26, 2021, we have ceased publication of content in India and have shut down Yahoo’s content operations in the country.”
“We did not come to this decision lightly. However, Yahoo India has been impacted by changes to regulatory laws in India that now limit the foreign ownership of media companies that operate and publish digital content in India.
“Yahoo has had a long association with India and we’re really proud of the premium, local content we have provided our users here for the last 20 years,” the page read.
It also thanked its users for their support, trust, and readership built over the years. Yahoo was one of the most popular service providers on the internet with its wide range of services – it was a place that offered something for everything.
