This is almost like a daily Eric Schmidt blog. There the Google CEO was yesterday with The New Yorker's Ken Auletta onstage in a discussion about Google's do-no-evil strategy.
But his words are heartening for media strapped by advertising challenges: It's Google's "moral imperative" to help fix the business. Google depends on high-quality content and it is not in its interests to watch good media go down the drain, he said.
Google hopes its acquisition of DoubleClick ($3-billion-plus) will revive some of the flagging U.S. newspaper advertising, but Schmidt makes clear there won't be a return to the same profit levels in any event.