The chief executive of Google has a message for the staggering newspaper industry: Things will get better. But, Google CEO Eric Schmidt told a group of industry brass Sunday evening, that will mean big changes to the news business and Google will continue being an integral part of those changes.
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Newspapers, he said, will make money once again. But it will be from online advertisements and an altered subscription model. “We have a business model problem, we don’t have a news problem,” Schmidt said. Speaking to the American Society of News Editors’ annual convention at the J.W. Marriott in downtown Washington, Schmidt showered praise on the industry, calling journalism an “art.” Schmidt said he reads three newspapers, and called their work indispensible. And he blasted blogs, saying that any questions about the value of newspaper editors can be answered: “look at the blog world.”
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