Contrary to what many news executives believe, that Google benefits more in this business relationship without giving much in return, Schmidt said Google News and Search has been a great promotional tool for news websites. And the ad revenue generated from the news search queries is in fact a " tiny fraction of our search revenue.""It's understandable to look to find someone else to blame. But as Rupert Murdoch has said, it is complacency caused by past monopolies, not technology, that has been the real threat to the news industry."- Eric Schmidt
Eric Schmidt, CEO of Google
Schmidt offers some comfort by saying Google is invested to help the news industry tackle their problem by "using technology to develop new ways to reach readers and keep them engaged for longer, as well as new ways to raise revenue combining free and paid access"
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