AOL Recast as Advertising Power as Verizon Eyes Takeover

For many Americans, the name AOL conjures up images of compact discs in the mail and the greeting “You’ve Got Mail.” Verizon Communications Inc. sees a powerhouse in mobile video advertising.

Verizon, which has approached AOL Inc. about a potential acquisition or joint venture, is primarily interested in its programmatic ad technology, which allows marketers to buy and sell ads using an algorithm, rather than the phone calls, three-martini lunches and hand shakes of yore.