Newspapers will find way to make money online: Google CEO
Monday, 12 April 2010, 22:15 IST   |    2 Comments
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Newspapers will find way to make money online: Google CEO
Washington: After being accused by media for draining readers and advertising from newspapers' Web sites; Google CEO Eric Schmidt said that newspapers will be able to find new ways to make money online by harnessing the vast reach of the Internet. Talking to a group of editors at the annual conference of the American Society of News Editors, Schmidt said that newspapers are vital to democracy and provide a critical source of online content. "The news business will find a new model, based on a combination of advertising and subscription revenue." He also said that the news business needs to reach out to readers using mobile technology, delivering content through wireless devices such as Amazon.com's Kindle, Apple's iPad and Google's own Android smart phones. The reaction of media executives were mixed on Schmidt's speech. Anders Gyllenhaal, Executive Editor, The Miami Herald said that even though Google drives a lot of traffic to his newspaper's site, he remains unconvinced that Google sees newspapers as true partners. "We really are going in different directions," said he. While Jonathan Wolman, Editor and Publisher of The Detroit News said that he was heartened to hear the Internet geniuses talk about newspaper content as an essential ingredient.

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