Business

Google pledges US$162m to European digital journalism fund

GOOGLE says it will give European publishers 150 million euros (US$162.33 million) to help them adapt to the challenge of selling news online.

The Internet giant has had a rocky relationship with the European publishing industry, which accuses Google of profiting from its content without sharing the revenue.

Google said in a statement issued on Tuesday it is establishing the Digital News Initiative together with eight leading publishers, including the Financial Times and the Guardian.

The fund is open to other publishers and will focus on developing new distribution channels, ways to make consumers pay for news, and training for journalists.

Last year, Google blocked Spanish publishers' reports from more than 70 Google News international editions due to a new Spanish law requiring aggregators to pay to link content.

Topics:  google journalism news publishing


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