The latest cut in the ever-shrinking kingdom of Larry and Sergey: Google Print Ads, a program which brokered ads in newspapers and magazines. So much for the notion of Google saving the printed word.
Google CEO Eric Schmidt has previously said he wouldn't help out by buying newspapers or showering them with cash. Google Print wasn't a bailout; it was an attempt to do business together. In a blog post, Google Print Ads director Spencer Spinnell says that his employer will keep working with newspapers — as long as they realize that they'll have to make money on the Internet, not in print (emphasis added):
We remain dedicated to working with publishers to develop new ways for them to earn money, distribute and aggregate content and attract new readers online. We will continue to devote a team of people to look at how we can help newspaper companies.