The world’s leading media company, Google, has decided to invest $1 billion in Canada to create a news and information powerhouse, according to people familiar with the matter.
Google announced the investment in a memo to employees last week and is expected to launch the company’s news and content operation by the end of the year, these people said.
The company is betting that Canada’s digital media ecosystem will benefit from Google’s expertise in data-driven news and digital media.
In fact, Canada is the company “that has the best reputation in the world for delivering the best news and news content,” said David Plouffe, president of Google Canada.
The announcement is an investment in the province that has traditionally been a leader in digital news, according a report by CTV News Canada in March.
“I think Canada has a great opportunity to be at the forefront of the world of digital media, both news and media, and this investment will help us to position ourselves to do that,” Ploufe said in an interview.
The Globe and Mail’s Greg Weston tweeted that Google is working on plans to launch an online newspaper in Canada by 2021.
Google declined to comment on the Globe’s report.
The online newspaper could be called the Globe, or simply The Globe.
It could also be called The New Globe, which could also reflect its name.
Google’s news operation is expected have more than 200 staff in Canada, the Globe and other media outlets have reported.
“This is a great addition to the digital news and journalism community,” said Jim Balsillie, president and CEO of the Globe Media Group, the parent company of the Canadian Press.
“Canada is a very strong digital media market, and it’s an area we are committed to being a leader on.”
Canadian newspapers and online newspapers dominate news and commentary in Canada.
They are owned by Pearson Communications, which also owns the National Post, CBC, and other newspapers.
Balsilie said Google’s digital news operation could be a “world-class player” in the country.
In a statement to The Globe, Balsila said the company was “actively pursuing opportunities to grow our business.”
Google’s investment is in addition to other $2.6 billion the company has spent on the news and publishing business in Canada in the past five years.
“Google has long been a champion for the digital media industry and its continued investment in Canada is an important part of our broader strategy to grow the digital economy in Canada,” said the statement from Balsili.
Google recently launched a digital newspaper in Germany and a digital magazine in Italy.
The newspaper, the Financial Post, was launched in March 2016 and will have about 100 employees.
In Italy, Google announced last month it had signed a $1.5 billion agreement to publish The Wall Street Journal and The Financial Times.
In Germany, Google launched the German edition of The New York Times in January and the Berlin edition of Bild am Sonntag in August.
In Switzerland, Google recently announced plans to open a digital news organization in Zurich.
The Swiss paper has about 600 employees.
Google has also invested $1 million in Canadian newspaper companies and in its own digital media arm.
The Associated Press, which owns The Wall St. Journal, is currently the largest newspaper publisher in the U.S. with nearly 100 million print and online subscribers.
The AP announced plans last year to build a digital version of its flagship The Post, a newsmagazine, into a digital platform.
The new AP digital business will offer content and features that will be more focused on digital innovation, including news and opinions on technology, politics, sports, and economics.
Google is also expected to spend $1-billion over the next five years to build its online news platform.
Google and its partners are already investing in Canada’s Canadian television industry.
Google invested $500 million in Bell Media in 2015 to help launch Canadian television services like Bell News Network and Canadian Broadcast TV.
Google also invested in local media in Canada last year.
The news and sports digital operation of Google’s Canadian TV division will include Canadian programming on regional TV networks and local television channels.
In 2018, Google paid $1,000 per year for each subscriber of its local TV network, according the Globe.