It is interesting reading about the debate at the Los Angeles Times about the placement of an ad covering the front page of the newspaper in the context of regular ad placement on and over the front page here in Australia by Fairfax newspapers. There is plenty of coverage by the LA Times move. See the New York Times, CNN, Reuters and The Huffington Post.
While the LA Times as is different in that is fakes a front page, the principle is the same when the newspaper masthead is incorporated in an ad or it and or editorial is covered by an ad.
How can we expect the public to trust and respect a news medium when the publishers do not?