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    Google to pay $1 billion over 3 years for news content

    By SHOOTUpdated:No Comments1284 Views
    This Thursday, Jan. 3, 2013, file photo shows Google's headquarters in Mountain View, Calif. Google said Thursday, Oct. 1, 2020, it will pay publishers $1 billion over the next three years for their news content. The internet search giant said it has signed agreements for its news partnership program with nearly 200 publications in Germany, Brazil, Argentina, Canada, the U.K. and Australia. (AP Photo/Marcio Jose Sanchez, File)
    LONDON (AP) --

    Google will pay publishers $1 billion over the next three years for their news content. 

    The internet search giant said said Thursday that it has signed agreements for its news partnership program with nearly 200 publications in Germany, Brazil, Argentina, Canada, the U.K. and Australia. 

    "This financial commitment – our biggest to date – will pay publishers to create and curate high-quality content for a different kind of online news experience," CEO Sundar Pichai said in a blog post. 

    On Thursday, Google's News Showcase is launching in Brazil and Germany, featuring story panels that let publishers package stories with features like timelines. It will appear first on Google News on Android, then Apple iOS, before it is rolled out to Google Discover and Search. 

    The funding builds on a news licensing program launched by Google in June,  as it seeks defuse tensions with the beleaguered news industry. News companies want Google, and its Silicon Valley rival Facebook, to pay for the news content that they siphon from commercial media while taking the lion's share of ad revenue.

    Skeptics remain, however. 

    The European Publishers Council said it's an attempt by Google to stave off legislation and government action to get them to negotiate.

    "Many are quite cynical about Google's perceived strategy," said Angela Mills Wade, executive director of the council. "By launching a product, they can dictate terms and conditions, undermine legislation designed to create conditions for a fair negotiation, while claiming they are helping to fund news production."

    Tags:GoogleNews Showcase



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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