Sometimes Google, Inc. (NASDAQ: GOOG) makes enemies even when it's trying not to. For example, the world's leading internet search company caused a stir with its Google News website, which basically aggregates news information from global sources into one area, but doesn't publish content of its own at all. Some European countries didn't like that.

Traditional media feels threatened by Google in many ways -- and it should feel this way. Innovation can disrupt industries and turn them upside down. And the media world cannot stay the same now that the internet is involved. But Google wants to partner with media companies, according to David Eun, Google's VP of content partnerships. He's right -- Google is in the partnership business to derive advertising revenue. I've said for years on BloggingStocks that Google's aim is to become the world's largest advertising company. To those who think Google wants to get into the content business, I say that's not what Google wants to conquer here.

Eun said, "That's absolutely not the case for us," when he responded to a comment from a Bear Stearns analyst about Google's interest in becoming a content creator. So far, Eun is right -- Google has shown absolutely no sign of getting into content businesses like print, television or movie entertainment. It is heavily engaged, however, in the business of partnering with those industries to monetize them in different ways in the face of declining subscribers, viewers and moviegoers. The dMarc buy and Google's possible foray into television is proof that it sees a morphed content future. But is Google really a wolf in sheep's clothing here? Only time will tell.