Google says ‘not up to us’ to dictate how news companies spend its $1 billion

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Google says ‘not up to us’ to dictate how news companies spend its $1 billion

Alphabet (NASDAQ:GOOGL) Inc’s DOWN 0.02% AT 2055.48

Alphabet (NASDAQ:GOOGL) Inc’s Google has reached licensing deals with over 600 news outlets around the world and is seeing a “huge increase” in users requesting more content from specific publications as part of a new program, it said on Wednesday.

Google is continuing to negotiate with additional publishers, including in the Unites States, to spend $1 billion for what it calls News Showcase.

The program through 2023 is Google’s biggest effort to invest in an industry that blames tech giants for siphoning its advertising revenue. Combined, Facebook and Google control over half of the digital advertising market.

Google is exercising little oversight over publishers’ use of the money.

“The intention of our payment is to help make it easier for publishers to be able to participate in the program,” Brad Bender, a vice president at Google overseeing News Showcase, told Reuters. “But ultimately it’s in service of creating this more sustainable future for news.”

But Google’s hesitance to hold publishers accountable for generating business results with the funds leaves questions about whether the media industry will at last turn a corner after several attempts by tech companies to provide support and improve its outlook.

On technical fronts Alphabet (NASDAQ:GOOGL) Inc’s RSI stood at 47.10 and currently stock is trading Above 5 and 50 Days MA and Below 20 Days Moving Averages. So, SELL position can be taken with following target and stoploss.

TRADE SIGNAL -: Alphabet (NASDAQ:GOOGL) Inc’s – SELL: 2055.48, TARGET: 2005.87, STOP LOSS: 2106.28

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