The San Francisco Chronicle has entered into a content sharing agreement with Bloomberg and will expand its daily business news section, the California daily reported yesterday.

The new daily business section, called "Business Report," will be produced jointly by the Chronicle staff and the Bloomberg news team. Beginning Sunday, it will feature stories drafted by Chronicle reporters and content from the Bloomberg news service, in both the print edition of the Chronicle and Web sites of both groups, the San Francisco Business Journal reported. Financial details about the deal have not been disclosed by either party.

According to the Chronicle, the collaboration is the first of its kind in the United States, with Bloomberg producing stories, graphics and photos specifically for the Chronicle, along with data packages that focus on Bay Area's largest industries that include technology, biotechnology and financial services.

"By working with Bloomberg, the world's largest and most trusted information source for business news and reporting, we intend the Chronicle's daily business section to be an essential read for business, financial and technology coverage of Silicon Valley and the Bay Area," Frank Vega, Chronicle Chairman and Publisher stated in a press release.

The new daily business section of the Chronicle will see the addition of pages in print, and offer in-depth coverage of the technology companies in the Silicon Valley along with regional real estate, jobs, personal finance and stock performance, according to a press release posted on Sys-Con Media.

The Business report section will continue to feature analysis and advice from Chronicle columnists, whom local readers trust for information on Bay Area business, along with additional content from Bloomberg that will include the Bloomberg Market Report, an "exclusive" data package on global economic trends, paidContent reported.

"Readers throughout the Bay Area can only benefit and profit from the combination of The Chronicle's exceptional news judgment and the global reporting perspective Bloomberg brings to each and every story," Matthew Winkler, editor-in-chief of Bloomberg News, stated in the press release. The 50-person staff in Bloomberg's San Francisco news bureau will coordinate daily with the newspaper staff for the daily's business section.

According to paidContent, this strategic move by Bloomberg will mark its presence in key cities, especially the ones where the Wall Street Journal and The New York Times have a significant print circulation, as both have launched Bay Area editions recently.