Eric Schmidt: I Wish I Could Save Newspapers

Fortune:

Fortune: Is there some grand gesture Google can make to help the newspaper industry?

Schmidt: It's not obvious what the grand gesture would be. Google can't make the cost of newsprint go down. We also can't materially change the way consumers behave, and consumers are in fact moving their lives online. We have been able to send clicks to newspapers' websites, which they can monetize. So that provides some revenue.

What other ideas might you try?

We have a mechanism that enhances online subscriptions, but part of the reason it doesn't take off is that in the culture of the Internet, information wants to be free. We've tried to get newspapers to integrate their products more tightly with ours. We'd like to help them better monetize their customer base. We have tools that make that easier. I wish I had a brilliant idea, but I don't.

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