"A notice for the collective work will not serve as the notice for advertisements inserted on behalf of persons other than the copyright owner of the collective work. These advertisements should each bear a separate notice in the name of the copyright owner of the advertisement."
Any copyright for Billboard would not affect this non-marked Gee ad. Gee didn't label their ad as under copyright.
Note that it may still be copyrighted in jurisdictions that do not apply the rule of the shorter term for US works (depending on the date of the author's death), such as Canada (50 p.m.a.), Mainland China (50 p.m.a., not Hong Kong or Macao), Germany (70 p.m.a.), Mexico (100 p.m.a.), Switzerland (70 p.m.a.), and other countries with individual treaties.
{{Information |Description=Photo of Herman Santiago with the 1950s group, Frankie Lymon and The Teenagers. |Source=[http://books.google.com/books?id=vSAEAAAAMBAJ&pg=RA1-PA74&dq=frankie+lymon+who+can+explain&hl=en&sa=X&ei=sGOBUsHtBOqSyAGAx4DQBA&ved=0CD4...