I'm not entirely sure this will be a resounding success for Google, but they're now offering the ability to place ads in newspapers via their AdWords program.
The idea is pretty cool and seems like it might save some time compared to contacting a large number of newspapers individually, but that's just an assumption on my part because I've not done any newspaper advertising before.
Because ads are sold based on a bid price (you propose a price and the publisher accepts or declines your bid), Google's Print Ads could also provide some cost savings assuming publishers are willing to sell space at a discount.
The big question to me is whether or not those who're using Google AdWords are even interested in newspaper advertising. I'm sure there are those who are, but I wonder if it's the masses or just a small percentage.
For more information: http://www.google.com/adwords/printads/