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If the proposal is reviewed favourably, Australian small businesses that primarily rely on the Yellow Pages for their advertising, and don't have the means to maintain a Web site, will be given an easy way to access pay-per-click marketing.
I guess they mean that the little yellow pages one-pager will be what the surfer gets if they click on the ad.... and I guess the ads will initially only be displayed on Telstra / Sensis sites.
There's also some feedback in the article from Yahoo about the response to the free local directory offer.