Think about this:
QR Codes have changed how print advertising engages potential customers. Providing consumers and customers compelling reasons to visit your website with easy-to-track codes can also help you measure print advertising effectiveness! Now, you don't have to rely on someone remembering a promo code, you can track real numbers!
Another reason why print isn't dead, and why print advertising is going to be bigger than ever, is the introduction of the tablet. eMarketer estimates that one in three consumers will be using a tablet by 2014. As a result, readers who consume magazines will have potential customers engaging in the same amount, if not more, magazine and/or newspaper content.
So, print isn't dead and neither is print advertising. Only fools would jump on an PPC campaign and totally eliminate print advertising. Have a mixture of both, run the numbers and make the best decisions for your marketing efforts based on those numbers!