American web service provider Yahoo has shut its content publishing in India on Thursday (26th August 2021), the services would be ceased across the country from this day onwards.
Yahoo services including Yahoo News, Yahoo Cricket, Finance, Entertainment and MAKERS India, would no longer be accessible in the country. The web portal, owned by technology company Verizon Media, has assured that users’ e-mail IDs and the search experience would not be affected in any manner. The company said, “Yahoo Mail will continue to operate in the country as normal. You may click HERE, to access your Yahoo Mail.
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On Thursday, the homepage of Yahoo read, “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.”
According to the official statement by Yahoo officials, the company has decided to shut down its content operations across the country as the company's operations in India were impacted by the recent changes to the country's regulatory laws. The statement read, “We did not come to this decision lightly. However, the company's operations in India were impacted by the recent changes to the country's regulatory laws.”
While explaining the reason behind the ceasing of services, the company said, “The new FDI regulations for digital media limit foreign ownership of media companies that operate and publish digital content in India in the “News and Current Affairs’ space, impacting our products – Yahoo Cricket, Yahoo News, Finance, Entertainment and MAKERS India.”
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This decision came after the changes in rules limiting foreign funding of more than 26% in digital news media outlets. As per the new IT Rules, the company would have to reconstruct its entire business in the country.
While informing about the resuming service in the country, the company said, “We have had a long association with India and the company would remain open to opportunities that connect us here.”