Bloomberg reports that Verizon has allegedly approached AOL about a potential purchase or joint venture. Verizon is reportedly most interested in AOL's automated online ad platform, but sources say Verizon also sees AOL as a lucrative partner for online video content.
AOL shares rose by as much as 13 percent on Monday night after the news broke. But sources told Bloomberg that the deal is still in the early stage and is speculative. As of now, Verizon hasn't made a formal proposal to AOL.