Alphabet Pledges to Pay $1 Billion to News Content Producers
Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) core subsidiary Google is about to open its wallet for news content. Alphabet CEO Sundar Pichai wrote in an official company blog post last week that Google will pay an initial $1 billion to partner with companies providing news content that will appear on an upcoming dedicated platform called Google News Showcase.
"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," Pichai wrote.
The announcement follows years of criticism, most prominently from the media industry, that tech giants such as Alphabet/Google disseminate news content across their ecosystems without paying the providers of that content, one way or another.
Source Fool.com
