Yahoo shuts down its news websites in India, citing changes in FDI rules
Yahoo has shut down its news websites in India today, a result of the new foreign direct rules in India, which limit the foreign ownership of media companies that operate and publish digital content in India.
This includes Yahoo News, Yahoo Cricket, Finance, Entertainment, and Makers India. A notice on Yahoo India’s homepage alerted readers that as of August 26, Yahoo will no longer be publishing content. Yahoo Mail, Search, and Account will not be affected by this, the notice said….
US tech major Verizon had acquired Yahoo in 2017. In November 2020, the Modi government capped FDI in digital media in India at 26 percent, and instructed those exceeding the mark to “bring down” foreign investment by October 2021. HuffPost India, also owned by Verizon, was the first casualty of the FDI regulations in November….