It's what Google does best -- helps you find what you seek. In this case it's the advertisers seeking ad space on traditional print media. Google's Print Ads program lets users of its Adwords service bid for ad space in about 225 newspapers. The end users make the deal while Google takes a cut for bridging the contact.
A quote from an article at VNUnet:
Google claims that the service currently covers more than 30 million readers in 32 of the top 35 advertising markets in the US, including New York, Washington, Seattle and Silicon Valley.
Yahoo! has a similar service but, with Google encroaching into this territory, the competition is bound to heat up. And yes, the Adwords users are a bulky bank of potential customers for Google to start with. The advantages for print firms is also evident, a Web interface for easy access to potential clients. This is where Google has always succeeded. It's about creating win-win situations and monetizing in the process.
Extra, extra Google expands Print Ads (WebProNews)
Google bouys up Print Ads to Newspapers' delights (InternetNews)