• by David Goetzl  @dgoetzl, March 7, 2011

CBS CEO Leslie Moonves said the company's initiative to create online hubs in markets using the combined resources of its local TV and radio stations has a chance to out-compete local newspaper sites and Yellow Page directories.

In Los Angeles, for example, a "CBS Los Angeles" site melds content from two all-news radio stations, as well as the local CBS TV station and KCAL. Sales forces of the group are linked, and there is cross-promotion between properties. There are also Groupon-like deal opportunities.

In New York and Chicago, the market-hubs combine a TV station, one or two news radio stations and a sports radio station. Moonves said 24 city-sites are online and revenue is modest so far, but growing.

"We think we can replace the Yellow Pages, replace the newspaper ... when you get up in the morning, you should be able to turn on that local CBS Web site and get everything you would need -- everything that would be provided by your newspaper," he told investors Monday.

In Los Angeles, LATimes.com is formidable. But Moonves, in an investment context, downplayed that. "Let's put it this way: The curve on CBS is doing a lot better than the curve on the Tribune Co., in terms of being able to produce content and sell it."

Tribune has filed for bankruptcy protection.

In L.A., the Web site for Tribune's KTLA station bears no prominent connection to LATimes.com.