Verizon is buying AOL for about $4.4 billion, advancing the telecom's push in both mobile and advertising fields.
The acquisition gives Verizon an entry into increasingly competitive online and mobile video. The New York company is the country's largest wireless carrier as well as an Internet and TV provider — and wireless video and targeted advertising is seen as the next battleground for customers.
The move comes as the media landscape is increasingly being disrupted on several fronts as more TV watchers stream shows online and through their smartphones and tablets. AOL offers an advertising sales and display network that made it an acquisition target.