BUSINESS

Verizon Said To Approach AOL For Possible Takeover, Venture

FILE - In file photo taken Aug. 21, 2010, a Verizon sign is shown at New Meadowlands Stadium in East Rutherford, N.J. On Tues
FILE - In file photo taken Aug. 21, 2010, a Verizon sign is shown at New Meadowlands Stadium in East Rutherford, N.J. On Tuesday, Jan. 14, 2014 a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit affirmed that the FCC had authority to create open-access rules. But in a setback for the Obama administration's goal of Internet openness, the court ruled that the FCC failed to establish that its 2010 regulations don't overreach. Under so-called net neutrality rules adopted in 2010 by the Federal Communications Commission, wired broadband providers such as Comcast, Time Warner Cable and Verizon were barred from prioritizing some types of Internet traffic over others.(AP Photo/Peter Morgan)

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.

Verizon 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.

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