The YQL team announced last week on the YQL blog that the y.ahoo.it URL shortener will be shut down on November 20, 2013. The announcement is re-posted in its entirety here as well:
The y.ahoo.it URL shortener powered by YQL will be shutdown on November 20th 2013 – a URL shortening service is not one of Yahoo!’s core competencies supporting our users’ Daily Habits.
As of November 20th, you will not be able to create short URLs using either the form at http://y.ahoo.it or the yahoo.y.ahoo.it YQL table available on the YQL console. The page at http://y.ahoo.it will redirect to http://www.yahoo.com.
Any short links you have already created will continue to redirect to the correct locations. We will provide at least three months notice before making any further changes to the service.
Questions related to this announcement can be directed to firstname.lastname@example.org.