Google to Set Up $82 Million Fund for French Publishers

By Mark Brooks – Feb 1, 2013 at 2:37PM

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European publishers bleeding money and readers had asked governments in France, Germany, and Italy to make Google pay.

PARIS (AP) -- Google (GOOGL 1.27%) will help French news organizations increase their online advertising revenue and also set up a €60 million ($82 million) fund to finance digital publishing innovation, settling a dispute over whether the Internet giant should pay to display news content in its search results.

European publishers bleeding money and readers had asked governments in France, Germany, and Italy to make Google pay. The company threatened to stop indexing European news sites if it was charged for the content.

The company says the settlement means it does not have to pay for "snippets" of news content that appear on a Google search page.

France appointed a mediator to lead negotiations with French publishers and said they'd come to a "happy conclusion" on Friday.

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