PARIS – Google resolved a compensation fight with French news publishers Friday that will see the U.S. Internet search giant setting up a €60 million ($82 million) fund to help France’s media develop online sources of revenue. The deal follows two months of mediation with French news publishers unhappy their websites were getting none of the advertising revenue Google earned from sending search clients to their news content.
Google will set up the fund to help French media develop online projects, the office of President Francois Hollande said. The news websites had wanted Google to share revenue earned from linking to their content, but the California-based search engine had said such a practice would “threaten (Google’s) very existence.”
A similar deal was reached in Belgium after a six-year battle. Editors in several other European countries have also complained that revenue is being unfairly siphoned off by Google.