One of India’s leading destinations for the LIVE cricket score & news, Yahoo Cricket will close its operations in India. According to the company’s spokesperson, the website owned by Verizon Media, the American technology giant, is likely to be taken down.
The company has shut down its operations in India because of the change in Foreign Direct Investment norms by the government of India. According to the company’s spokesperson, the alteration in the rules doesn’t leave them with any other option but to shut down the operation of not only Yahoo Cricket but also other news sites in India.
The new FDI regulations forbid foreign backing of more than 26% in digital news media outlets. The company will shut down its news sites including Yahoo Cricket, Yahoo Finance, News, Entertainment, and others in the next few days.
“There have been changes in the rules limiting foreign ownership of media companies that operate in the news and current affairs space, including a digital media entity that streams, uploads digital news and current affairs content in India and news aggregators,” April Boyd, head of Global Public Policy, Verizon Media.
Verizon will continue to function Yahoo Mail and Yahoo Search, and its AdTech business in India smoothly.
Yahoo previously shut down Yahoo Groups in December 2020, concluding the 19-year-old legacy of the conversation board platform. The Verizon-owned company had revealed that the product no longer fits its long-term strategy as the company is focusing on other sectors of the business. Yahoo products seem to have lost their relevance in the fast stridden Indian digital market.