SEARCH OUTFIT Google has told newspaper and electronic media baron Rupert Murdoch that it is trying to save his failing industry and he should stop whining.
Google CEO Eric Schmidt told the Wall Street Journal that he had a gutsful of newspaper publishers scapegoating Google for their own poor performance.
He said that Google wanted to help the troubled industry build online revenue but publishers are moaning about dwindling revenue and diminished resources.
Schmidt said too much anger is currently directed at Google, whom many executives view as getting all the benefit without giving much in return.
The Wall Street Journal's parent News Corp chairman Rupert Murdoch has accused Google of "stealing" stories without sharing advertising revenue. He has threatened to block Google from indexing his newspapers' websites.
But Schmidt said Google is a "great source of promotion" for newspapers through its aggregator website Google News and other services.
Schmidt said the industry is stuffed because it became too complacent due to its past monopolies. He acknowledged that it has been difficult for newspapers to make money online but said there was no single cause or a single solution.
We don't recommend the Wall Street Journal site because it demands you pay Rupert to see the story. After a search on Google we found the story here, where Rupert had flogged it to AFP. µ
Plus the cost of ambition as moonshots eat into the coffers
Spoiler alert: it's probably VeriSign
Did we say cuts off? We meant traps them inside their own home