Verizon Communications Inc. has approached AOL Inc. (AOL) about a potential acquisition or joint venture with the Internet company to expand its mobile-video offerings, people with knowledge of the matter said.
The wireless carrier hasn’t made a formal proposal to AOL, and no agreement is imminent, said the people, who asked not to be named because the discussions are private. Speaking at a conference today, Verizon Chief Executive Lowell McAdam said the company isn’t having “significant acquisition discussions” and is more interested in partnerships with media companies and content providers, rather than buying them.
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