Also, keep in mind that "conan" and "tbs", taken together, may constitute a valid trademark infringement in the future. Not saying that they will do anything about it, but lately there has been a crackdown on such postings.
How you use the site is another thing. You can blog to it, load it with ads, then let the search engines take over. But I don't really see too much of a deal here. Let's put this in perspective: Conan was on NBC for decades, yet "conannbc.com" has never been regged. Why should TBS be any different?
Not trying to throw cold water on you, but trying to reasonably access your profit potential here.