In an announcement made today by the French President Francois Hollande, regarding the settlement with Google, it was clarified that Google will be saved from paying the link tax. However, by agreeing to this settlement, Google will have to create a Digital Publishing Innovation Fund of $60million, to help French media grow and adapt towards the modern online age.
French republic had brought forward a law recently, according to which Google had to pay link tax to French government. However, the company threatened cut off linking to French media. If this had happened, the country’s publishers would miss 4 billion clicks per month.
The talks about the settlement had been in discussion for quite some time. French president Mr. Hollande had met Google’s Eric Schmidt last year in October as well to get an end to this discussion by the end of 2012. Although that deadline was missed by a month, yet the results are going to be beneficial for both the parties
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