Google's CEO: Old and New Media Have Different Views on Content's Value

The Wall Street Journal's Riva Richmond covers a talk by Google CEO Eric Schmidt in New York yesterday. Doesn't sound like he's trying to make nice to big media. Richmond writes:

Traditional media argue their content has a certain intrinsic value, while Google says "prove it," [Schmidt] said. "That's often a difficult conversation."

"Ultimately, product value is determined if people view it," Mr. Schmidt argued. "They vote with their clicks, they vote with where they go."

Asked by a member of the audience whether Google is "arrogant," as charged by some in traditional media, Mr. Schmidt said, "I'm sure we're arrogant."