Can Anyone Tap the $100 Billion Potential of Hyperlocal News?

Community-driven news services have been the next big thing online for years. Hyperlocal sites -- covering cities, towns, or just a neighborhood -- can deliver precision-targeted advertising to local and global businesses. As the once-exponential growth rate for most Internet advertising in the United States grinds to a halt, the online local-advertising market is projected to grow 5.4% in 2009 to $13.3 billion, according to media research firm Borrell Associates. Can The New York Times or AOL find the $100 billion local-advertising pot of gold?