Verizon Communications Inc. has approached AOL Inc. 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.

Verizon’s primarily interested in AOL’s programmatic advertising technology ― the automated buying and selling of ads online ― which two people said could be paired with a future online-video product. With a takeover it would also gain Internet properties including The Huffington Post and subscribers who pay for Internet access. (Bloomberg)