Yahoo has shut down its news websites in India due to new foreign direct investment (FDI) rules limiting foreign ownership of media companies that operate and publish digital content in India. Yahoo News has had a long association with India over the last 20 years providing news content in the digital media space, and many users expressed disappointment at its closure. Yahoo added that it did not take the decision lightly and was impacted by the new FDI regulations.
Starting from October 15, 2021, the digital news media should comply with India’s 26 per cent foreign direct investment (FDI) policy. In November 2020, the Union ministry of information and broadcasting said that the companies, which have more than 26 per cent FDI, will be bound to seek government approval and bring foreign shareholding down to 26 per cent by the next year.
“As of August 26th, 2021, Yahoo India will no longer be publishing content,” a statement on the Yahoo India homepage read. “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.”
According to the frequently asked questions (FAQ) section on the Yahoo website, the company has decided to cease publication of all content in India, shutting down Yahoo’s content operations across the country. The content offerings closed include Yahoo News, Yahoo Cricket, Yahoo Finance, Entertainment, and MAKERS India.
“We did not come to this decision lightly,” Yahoo said, adding that the company’s operations in India were impacted by the recent changes to the country’s regulatory laws “that now limit the foreign ownership of media companies that operate and publish digital content in India.”
The company has reiterated that this move will not affect users of Yahoo Mail in any way and Indian Yahoo Mail users can continue using their services without any disruption.
Indian users can still access the international Yahoo News website and also US Yahoo News.