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I can't imagine how this could be legitimate. Is that some kind of scam, just fishy, or did I miss something?
The ads are not regular Google Ads, but they are image buttons with a text like "See what's new on domain.com" or "Subscribe to our free newsletter".
It goes like this :
[What's News button on Homepage] --> googlesyndication/pagead/ --> [What's New Internal Page]
All on the same domain, except the Google redirection process.