Today, Google (NASDAQ:GOOGL) Chairman Eric Schmidt and French President Francois Hollande announced two new initiatives to help French publishers innovate and increase online revenues. First, Google has agreed to create a €60 million ($82 million) Digital Publishing Innovation Fund to drive new, digital publishing initiatives for French readers. Second, Google will help French publishers use its advertising technology to increase online sales.
Google says this move falls in line with its 2011 commitment to invest in France, and to bolster the news industry. Launched last year, Google's Play store lets publishers make money, for instance, by charging paid subscriptions.
On Google's official blog, Schmidt writes:
A healthy news industry is important for Google and our partners, and it is essential to a free society.
Fool contributor Kevin Chen has no position in any stocks mentioned. You can follow him at @TMFKang or on Google+. The Motley Fool recommends Google. The Motley Fool owns shares of Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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