 Philipp Schnidler |
Google today unveiled a $300M campaign to help mainstream media "thrive in the digital age," according to a blog post by chief business officer Philipp Schindler.
The search engine, which took heat for distributing misleading and fake news during the presidential campaign, says its Google News Initiative will strengthen quality journalism, elevate business models to drive sustainable growth and empower media through technical innovation.
Google, which claims to be combatting fake news on its own platforms, will promote authoritative content and work with publishers to launch DisInfo Lab to identify misinformation in breaking news.
It is teaming with the Poynter Institute, Stanford University and Local Media Assn. to develop "MediaWise," a program to teach digital media literacy to young people.
Schindler says Google, which controls the lion's share of the digital ad space, is committed to helping publishers diversify their revenues base.
For instance, is company will allow users to purchase newspaper subscriptions via their own Google accounts. The New York Times, Financial Times and Washington Post are among papers to sign up for this service.
According to Schindler, GNI demonstrates that news and quality journalism is a top priority for Google.
"We know that success can only be achieved by working together, and we look forward to collaborating with the news industry to build a stronger future for journalism," he wrote.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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