PARIS - Google plans to invest US$1 billion on partnerships with news publishers worldwide to develop a"Showcase" app to highlight their reporting packages, CEO Sundar Pichai said in a statement on Thursday .
It is currently in a standoff with several European media groups, including Agence France-Presse, over its refusal to comply with a new EU law governing digital copyrights. Pichai said the new product called Google News Showcase will launch first in Germany, where it has signed up German newspapers including Der Spiegel, Stern, Die Zeit, and in Brazil with Folha de S.Paulo, Band and Infobae.
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