Yes, but if you read the article, the Google rep acknowledges the reasons for the previous failure. They've retrenched and come out with a new strategy.
The new product looks more enticing, more in line with traditional advertising buys for print media. They've also lined up a far more impressive crop of print newspapers as partners for this round.
And, credit where credit's due, Phaedrus beat me to the punch with the early rumors [webmasterworld.com]. I missed his post when I presented mine.