Morningstar of Chicago and Bloomberg LP of New York are teaming up to provide news and sell mutual fund reports on the website.

The partnership marks the first time Bloomberg has allowed anything to be sold through its news website, according to Chris Taylor, a Bloomberg spokesperson. As of May 3, Morningstar began providing the Bloomberg site's mutual fund news section with Morningstar news and feature stories. In exchange, Morningstar is allowed to sell its one page OnDemand Fund Reports within the news section.

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