(Reuters) - Verizon Communications Inc
Verizon has not made a formal proposal to AOL, and no agreement is imminent, Bloomberg said, citing people who asked not to be named. (http://bloom.bg/17enf1h)
AOL shares jumped 12 percent to $50.05 after the bell.
A spokesman for Verizon declined to comment.
A joint venture, if formed, would focus on advertising technology, Bloomberg cited one of the people as saying.
Verizon is seeking expertise in online content, mobile video and advertising, according to one of the Bloomberg sources.
The programmatic ads platform could be paired with a future online-video product, Bloomberg said, quoting two people familiar with the matter.
Last year, activist investor Starboard Value LP urged Yahoo Inc
AOL did not immediately respond to requests for comment after regular business hours.
(Reporting by Sudarshan Varadhan and Devika Krishna Kumar; Editing by Bernard Orr and Lisa Shumaker)