Since you posted this is the Web 2.0 section,
I'm wondering if you meant to
ask about that too?
If you are advertising to newbies about how to make money online, then newspapers COULD work, but would be expensive and the return would be low I think. Assume a $25 ad cost (just guessing, no idea). That would be one paper in one city. My best guess is you could MAYBe get 5 clicks. (I don't have a crystal ball and thats only a conservative guess.)
For 25 bucks you can get 500 visitors from StumbleUpon for instance and they would be people fairly targeted to your niche. Or for that same 25 you could get 500 visitors from Adwords (if you can find some long tail .05 key phrases).
Plus there's tons of social networking you can do for free and drive traffic that way.
Plus there are lots of FREE online classifieds like
BackPage.com that are distributed to most of the major cities. Don't know if they allow biz opp ads, if that's what you are promoting, but worth checking.