New Delhi: American web service provider YAHOO has shut down its news sites in India due to new foreign direct investment (FDI) rules. Under the new FDI guidelines, there are limits for international ownership of media organizations that work and publish digital content in India.
Yahoo has closed its news websites in India, including Yahoo News, Yahoo Cricket, Finance, Entertainment, and MAKERS India.
However, the company has stated that this will not affect its Yahoo email and search settings. Yahoo had been taken by the United States tech program Verizon in 2017.
You can see a notice over the Yahoo website. It reads: "As of August 26th, 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."
In its support section, Yahoo stated that effective August 26th, 2021, the firm has stopped issuing content in India and has shut down Yahoo's content services in the nation.
It reads, "We did not come to this conclusion effortlessly. But, 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 proud of the premium, local content we have provided our users here for the last 20 years."