Google CEO sees newspaper future in advertising
(AP) -- Google's CEO Eric Schmidt recommends that news organizations continue to rely on advertising but seek new ways to reach readers.
Without providing specific recipes, Schmidt's speech Tuesday lays out a few possibilities.
One is a site for medicine similar to the online encyclopedia Wikipedia, which lets users collectively contribute and edit entries.
He says there's still room for subscription and pay-by-the-piece journalism but he emphasizes advertising, the source of 98 percent of Google Inc.'s revenue.
Schmidt makes the remarks at the Newspaper Association of America convention in San Diego.
Schmidt commends newspapers for staking a claim on the Internet in the 1990s but says there wasn't a second act. He says news Web sites are too slow to read, even slower than flipping through a newspaper.
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