According to Yahoo's Publisher Network FAQ:
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The Ad Page must be in English or Spanish and be consistent with the language of the Listings
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but, on the sign up page, it says:
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Participants of the program must have a valid U.S. Social Security or Tax ID number, and web site content that is predominantly in English and targeted at a U.S. user base.
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So, eh, what is the point of the Spanish ads if only sites targeted at English and Americans are allowed?