The newly set foreign direct investment norms in India caused Yahoo’s ultimate decision to shut down its news websites in the region. It consists: Yahoo News, Yahoo Cricket, Finance, Entertainment, and MAKERS India.
The decision taken was bound by the norm that puts up a certain limit upon the foreign ownership of media companies operating and publishing content digitally within the region.
“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. We thank you for your support and readership,” reads a notice put up on the official website.
“In case you are a Yahoo Mail user, this change does not affect you in any way. This development does not impact our products Yahoo Mail and Yahoo Search, where we will continue to serve users in India as before, without any change,” it said.
The new FDI regulation asks for the digital media entities to accept about 26% investment from foreign entities, with approval from the central government. This will come in effect from the month of October of this year and will be levied on all digital media companies within India.