https://sputnikglobe.com/20210826/yahoo-closes-down-news-operations-in-india-over-new-regulations-1083715192.html
Yahoo Closes Down News Operations in India Over New Regulations
Yahoo Closes Down News Operations in India Over New Regulations
Sputnik International
In September 2019, the Indian government capped Foreign Direct Investment (FDI) at 26 percent for digital news platforms operating in India. The decision aimed... 26.08.2021, Sputnik International
2021-08-26T07:39+0000
2021-08-26T07:39+0000
2022-10-25T14:42+0000
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American web services provider Yahoo has ceased its news services in India starting Thursday over India's amended regulatory laws, that stipulate limiting foreign ownership of media companies and a cap on Foreign Direct Investments (FDI). The company has expressed concerns about having to re-structure its work and business as per India's IT rules to be able to operate in the country.The new rules direct online platforms to remove any content flagged by authorities within 36 hours and observe norms of journalistic conduct of the Press Council of India. Despite shutting down its content publishing business in India, Yahoo has assured its users that their Yahoo accounts, e-mail and search engine would continue to function normally. "Yahoo has had a long association with India and we're really proud of the premium, local content we have provided our users here for the last 20 years," the company said, noting that it remains open to opportunities that connect them to users in a country which boasts the world's second-highest population.Yahoo was established by Jerry Yang and David Filo in January 1994 as one of the pioneers of the early internet era. After witnessing worldwide popularity as a web services provider, Yahoo started observing a decline in its market in the late 2000's, losing to Google.The share of Yahoo in the mobile search engine market across India was 0.07 percent in August 2020. This was a fall in market share compared to its standing of 0.24 percent in September 2018.
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Yahoo Closes Down News Operations in India Over New Regulations
07:39 GMT 26.08.2021 (Updated: 14:42 GMT 25.10.2022) In September 2019, the Indian government capped Foreign Direct Investment (FDI) at 26 percent for digital news platforms operating in India. The decision aimed to create a level playing field for all news sectors because FDI was already capped at 26 percent and 49 percent for print and TV news outlets.
American web services provider Yahoo has ceased its news services in India starting Thursday over India's amended regulatory laws, that stipulate limiting foreign ownership of media companies and a cap on Foreign Direct Investments (FDI).
"We did not come to this decision lightly. However, Yahoo India has been impacted by changes to regulatory laws in India," the company said on its frequently asked questions (FAQs) page.
The company has expressed concerns about having to re-structure its work and business as per India's
IT rules to be able to operate in the country.
The new rules direct online platforms to remove any content flagged by authorities within 36 hours and observe norms of
journalistic conduct of the Press Council of India.
Despite shutting down its content publishing business in India, Yahoo has assured its users that their Yahoo accounts, e-mail and search engine would continue to function normally.
"Yahoo has had a long association with India and we're really proud of the premium, local content we have provided our users here for the last 20 years," the company said, noting that it remains open to opportunities that connect them to users in a country which boasts the world's second-highest population.
Yahoo was established by Jerry Yang and David Filo in January 1994 as one of the pioneers of the early internet era. After witnessing worldwide popularity as a web services provider, Yahoo started observing a decline in its market in the late 2000's, losing to Google.
The share of Yahoo in the mobile search engine market across India was 0.07 percent in August 2020. This was a fall in market share compared to its standing of 0.24 percent in September 2018.
