The International Herald Tribune and Reuters have partnered to revamp the former's online and print business coverage, reports The New York Times.

The partnership will result in dual reporting from both outlets on the IHT's business section. This signifies the end of the IHT's long-standing relationship with Bloomberg, which previously assisted in business coverage.

The International Herald Tribune and Reuters will also launch a co-branded website on January 7 that aspires to become a central source for breaking and in-depth industry news.

The two will split ad revenue from the new site and a print partnership: Reuters will get a cut of profit from ads that appear alongside its stories in the print edition of the Tribune.

An IHT executive says this is not a sign that the paper is dropping its online paid subscription-access business model. Bringing in advertising income is simply an additional revenue stream, not a replacement for subscriptions.

A number of print publications have already slashed their subscription models, in whole or in part, to brave the volatile waters of ad-supported content. These include The New York Times' TimesSelect, the Financial Times and Digg-submitted articles from The Wall Street Journal.