Mr. Schmidt noted that Google has a multi-million dollar deal to host AP content on its pages. He added that he was "a little confused by all the excitement" in the media following the AP announcement on Monday. Mr. Schmidt, however, did not directly address the AP's initiative.How could he directly address it? It didn't include any concrete proposals. If anything, it was an acknowledgment of how far behind the times newspapers have fallen.
I'm not sure I want Google owning any more of the news business than they currently do, but newspapers should pay attention to Schmidt's message. They need some deep thinking on how their business will evolve onto the web, and they need it soon.