This investment will be used to help the organisations make money from their online news coverage.
The Guardian, Financial Times, Die Zeit and El Pais are among the backers of this initiative.
But there has been opposition – mainly from media groups that have been publicly critical of Google in the past.
All publications belonging to Axel Springer and Rupert Murdoch are not backing the scheme, yet Google have left them an open invitation to join.
The Internet giant agreed to do a similar thing for French media organisations back in 2013. The reason for this was to settle a dispute regarding the rights to show headlines and shortened versions of their articles on its Google News feature.
Analysts believed that this would “open the door” for other news organisations seeking licensing fees.
If a company does accept the funds, they will need to make sure their readers know they do not have a conflict of interest on the following topics:
The European Union:
- accused Google about abusing its ‘monopolising’ position in online searches
- is investigating if it unfairly bundles together its Android apps
- is most likely going to tighten the restrictions on the tech sector makes use of people’s data.
These are potentially going to feature in the European media in the next few months.