Google considered buying a newspaper but dropped the idea, the head of the Internet search giant said in an interview with the Financial Times (FT) published on Wednesday.
Google chairman and chief executive officer Eric Schmidt said the California company had also considered using its charitable arm, Google.org, to support news businesses seeking non-profit status but was now unlikely to do so.
He told the FT that Google had looked at buying a newspaper but concluded that potential acquisition targets were too expensive or carried excessive liabilities.
The company was “trying to avoid crossing the line” between technology and content, he said.
Instead, Google was working with the Washington Post and other newspapers to improve their online products and with publishers to make their Web sites “work better” for online advertising, Schmidt said.
He told the FT that “clever ideas” about sheltering newspapers in non-profit structures had been suggested to Google.org but “are unlikely to happen without some massive, massive set of corporate bankruptcies.”
US newspapers have been grappling with a steep drop in print advertising revenue, steadily declining circulation and the migration of readers to free news online.
The FT said Schmidt would not comment on reports this month that Google had been approached about buying a 20 percent stake in the New York Times Co, which is owned by hedge fund Harbinger Capital Partners.
It said Schmidt played down industry calls for Google to increase the amount of revenue it shared with news organizations whose content appears on Google News, saying it would have to take money from “another pocket” to do so.
He also said it was highly unlikely that people would pay for general news on the Web when so much was available for free.
Subscriptions and micro-payments would work for specialized content, he said, but were unlikely to do so for general news such as political reporting.
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