Cricket Websites – Yahoo Cricket LIVE Score: One of the premier destination for Cricket news & LIVE cricket score in India Yahoo Cricket will shut down its operations in India. The site owned by American technology giant Verizon Media will shut shop in India according company’s spokesperson.
Cricket Websites: Yahoo Cricket & other news business sites by Verizon Media to shut down in India
Cricket Websites – Yahoo Cricket LIVE Score: The reason for company to shut operations in India is due to change in Foreign Direct Investment norms by the Government of India. According to the company’s spokesperson, the change in rules doesn’t left them with any option than shut down the operation of not only Yahoo Cricket but also other news sites in India.
The new FDI regulations prohibit foreign funding of more than 26% in digital news media outlets. The company according to the available information 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 was quoted by ET.
Verizon will, however, continue to operate Yahoo Mail and Yahoo Search, and its adtech business in India.
Yahoo earlier in December 2020 had shut down Yahoo Groups putting an end to the 19-year-old legacy of the discussion board platform. The Verizon-owned company had that point declared the product no longer fits its long-term strategy as the company is focusing on other areas of the business.
But in reality, Yahoo products in fast paced Indian digital market have gradually lost its relevance. Now with exit from digital news business, their presence further shrinks down.