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Yes. Although it may not be apparent when you move your Yahoo! Website Services account to Yahoo! Web Hosting, Yahoo! will continue to pay Melbourne IT (INWW) directly for your domain name registration renewal, since your domain name was originally registered through Yahoo!.
To ensure that Yahoo! continues to pay the annual registration fee for your domain, you should sign up for a Yahoo! Web Hosting package within 14 days of cancelling your Yahoo! Website Services account. After 14 days, your domain name may be reassigned to Melbourne IT (INWW). If reassignment occurs, Melbourne IT will send you an email with more information about how to manage and renew your domain with them.
To view the Yahoo! Web Hosting packages, please visit:
http://webhosting.yahoo.com/ps/wh/prod/
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