The three-year program will see Google providing 150 million euros or $163 million toward innovation projects intended to benefit the news industry.

The European publishers to sign on to the initiative include England‘s the Guardian and the Financial Times, France‘s Les Echos, Germany‘s FAZ and Die Zeit, Spain‘s El Pas, Italy‘s La Stampa and the Netherlands‘s NRC Media.

The European Journalism Centre, the Global Editors Network and the International News Media Association are also involved in the program.