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AOL (NYSE: TWX) and online local guide network CitySearch, owned by IAC (NSDQ: IACI), have formed an advertising and content-sharing partnership. AOL’s local online directories get CitySearch’s more established reviews and wider listings, while advertisers on CitySearch gain increased reach via AOL’s network. And, if it works as intended, both companies get to realize at least a slight uptick in the shared ad revenue, terms of which were not disclosed. As IAC prepares to split into five separately traded companies, it will continue to hold CitySearch among its other properties, such as search engine Ask.com.