Silvery - 8:03 pm on Feb 7, 2011 (gmt 0)
If you mean "is it really nuts how fractured the local ad space is", then the answer is "yes". Local online media has been very fractured for a very long time, meaning that in order to get very wide coverage for a local market, one may need to promote on a great many sites or via an ad network which gets you placement in many places at once.
However, to achieve sufficient coverage to get good-enough increases in business referrals and associated ROI, it may only be necessary to advertise in a select few places or networks. Testing is vital to establish.