Google (GOOG) Not Looking To Buy A Newspaper
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Google (Nasdaq: GOOG) has been looking at buying a newspaper or using its charitable arm to support news businesses seeking non-profit status, but is now appears unlikely it'll pursue either option, Eric Schmidt, chairman and CEO, told the Financial Times.
His remarks will stop the speculation that Google might save franchises such as the New York Times (NYSE: NYT) that are struggling with debts and declining subscription and advertising revenue.
The FT said Google had looked at buying a newspaper but was “trying to avoid crossing the line” between technology and content, Google's Schmidt said. Google will instead work with publishers to make their websites “work better” for online advertising.
Schmidt did say Google concluded that potential acquisition targets were too expensive or carried excessive liabilities.
His remarks will stop the speculation that Google might save franchises such as the New York Times (NYSE: NYT) that are struggling with debts and declining subscription and advertising revenue.
The FT said Google had looked at buying a newspaper but was “trying to avoid crossing the line” between technology and content, Google's Schmidt said. Google will instead work with publishers to make their websites “work better” for online advertising.
Schmidt did say Google concluded that potential acquisition targets were too expensive or carried excessive liabilities.
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