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ALPHABET INC.

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Alphabet : Google poised to strike deal to pay French publishers for their news

10/07/2020 | 02:53pm EST

BRUSSELS, Oct 7 (Reuters) - Alphabet's Google is set to reach a deal to pay French publishers for their news, the U.S. tech giant said on Wednesday, the latest move to placate media groups and head off regulators siding with publishers seeking a level playing field.

Last week, the world's most popular internet search engine said it planned to pay $1 billion to publishers globally over the next three years for their news, starting with German and Brazilian media groups under a new product called News Showcase.

The deal with French publishers would come on the eve of a ruling by a French appeals court on a so-called neighbouring right enshrined in revamped EU copyright rules, which allows publishers to demand a fee from online platforms for showing news snippets.

"The Alliance de la Presse d'Information Générale (APIG) and Google have been working together for a year on the remuneration of neighboring rights under the French law. These discussions have evolved positively in recent weeks," Google said in a statement.

It said a deal would include acceptance of the neighbouring right as well as the French groups' participation in its News Showcase.

Pierre Louette, Groupe Les Echos CEO, who is negotiating for APIG, said: "The last few weeks have allowed us to clarify many points and confirm that Google accepts the principle of remuneration for our press titles."

French publishers are among Google's fiercest critics. In April, the French antitrust authority ordered the company to pay French publishing companies and news agencies for their content in response to complaints from the media groups. (Reporting by Foo Yun Chee, additional reporting by Mathieu Rosemain in Paris; Editing by Chizu Nomiyama and Elaine Hardcastle)


© Reuters 2020
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Financials (USD)
Sales 2020 179 B - -
Net income 2020 35 705 M - -
Net cash 2020 118 B - -
P/E ratio 2020 34,6x
Yield 2020 -
Capitalization 1 196 B 1 196 B -
EV / Sales 2020 6,03x
EV / Sales 2021 4,93x
Nbr of Employees 132 121
Free-Float 90,3%
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Alphabet Inc. Technical Analysis Chart | GOOGL | US02079K3059 | MarketScreener
Technical analysis trends ALPHABET INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 47
Average target price 1 884,54 $
Last Close Price 1 764,13 $
Spread / Highest target 27,5%
Spread / Average Target 6,83%
Spread / Lowest Target -29,9%
EPS Revisions
Managers
NameTitle
Sundar Pichai Chief Executive Officer & Director
John LeRoy Hennessy Chairman
Ruth M. Porat Chief Financial Officer & Senior Vice President
Lawrence E. Page Director
Sergey Mikhaylovich Brin Director
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