Google's (GOOG) Advice Won't Save The New York Times Company (NYT)

Google's (Nasdaq: GOOG) CEO Eric Schmidt told the Newspaper Association of America that all was not lost for its industry. Newspapers have a chances to create new forms of revenue, if only that will take them.

At the heart of Schmidt’s proposal is the mimicking of the TV business. A large amount of television content is free and supported by advertising. Another set of content is part of basic cable, and there is some income in being a part of that distribution channel. Finally, pay TV creates a wall that the consumer cannot get over unless he is willing to shell out for super-premium content like movies.

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