In the interview published Wednesday, Schmidt said his company, as a platform to reach other Web sites, wants "to avoid crossing the line" between technology and content.
Other news stories have suggested Google is considering partnerships with news organizations or possible investments in them. There have also been suggestions that some newspapers could be converted into non-profits through the Google Foundation.
"They are unlikely to happen without some massive, massive set of corporate bankruptcies," Schmidt said.
Google's relationship with news organizations has been a difficult one, with some accusing the company of making money off the content they pay to provide. Schmidt said Google helps news Web sites by sending readers to them.