An announcement by Yeah1 Group (stock code: YEG) on the Ho Chi Minh City Stock Exchange (HoSE) Thursday said YouTube has released all media channels related to Yeah1 and its subsidiaries from CHSAs starting May 22.

A CHSA is the license for a partner media company, in this case Yeah1, to earn from third-party businesses that run ads on channels on the video streaming platform.

"Yeah1's multi-channel network (MCN) rights will also be stopped indefinitely. The restoration of these rights may be reviewed in the future," YouTube informed Yeah1, adding that they will not limit "discussion opportunities" in the future.

Prior to this announcement, Yeah1 had been YouTube’s third largest MCN partner in the world, with 6.9 billion monthly views, according to Bloomberg.

Youtube had announced the move on March 4 after Thailand’s SpringMe. Ltd., in which the Vietnamese company owns almost 17 percent, was involved in an incident that violated YouTube’s policies.

In a circular sent to shareholders, Yeah1 said it will cooperate with YouTube and its partners to facilitate the transition. It will continue to maintain other business lines and strategic partnerships, and focus on producing, managing, and generating revenue from content on other online platforms.

YEG stock Thursday morning dropped by 7 percent to VND100,500 ($4.29) in reaction to the news, with 30,000 unmatched sell orders at the end of the morning session.

Founded in 2006, Yeah1 is Vietnam's largest MCN ecosystem, operating TV channels, movie studios, YouTube networks, and digital news. It was also the first media company to go public, listing on HOSE last June.