Starting today August 26, Yahoo India is shutting down its content websites including Yahoo News, Cricket, Finance, Entertainment, and MAKERS in India. The company confirmed that Yahoo accounts, e-mail, and search experiences will not be affected in any manner.
If you visit the Yahoo India home page, there’s a clear message confirming compass action.
The company also confirmed that it was forced to take this hard decision due to changes in regulatory laws in India. Indian law limits foreign ownership of media companies that publish digital content. Any media company offering digital content in India cannot have more than 26 percent FDI. It required Yahoo India to restructure its entire media business. Doing this wasn’t possible in a small timeframe.
Yahoo mail and search will continue to operate in India because these entities are not affected by the IT rules.
The company also confirmed possibility of resuming operations in India. It said, “We’ve had a long association with India, and remain open to opportunities that connect us to users here.”
