Google has agreed to pay $82 million to support “digital publishing initiatives” at French newspapers and other publishers under an agreement announced Friday.
The investment is part of a deal between the company and the French government that ends a dispute over whether the search engine should pay for “snippets” of articles that show up in Google searches. The two sides signed the pact after months of negotiation.
The French government called it a “happy conclusion” that would “facilitate the transition of the press to the digital world.”
Under the agreement, Google will create the new fund and work with French publishers to help increase their online revenues, “using our advertising technology,” Google Executive Chairman Eric Schmidt said in a company blog post.
“A healthy news industry is important for Google and our partners, and it is essential to a free society,” Schmidt wrote.