Mergers and Acquisitions

Verizon CEO: No 'Significant' Talks to Buy AOL

Verizon CEO: No 'Significant' Talks to Buy AOL
Image credit: Travis Wise | Flickr
1 min read
This story originally appeared on CNBC

Reports that Verizon has held concrete discussions to acquire AOL are "not accurate," Verizon CEO Lowell McAdam said on Tuesday.

On Monday, Bloomberg reported that Verizon had approached AOL about an acquisition or joint venture. Verizon had not made a formal proposal, Bloomberg said.

"I think AOL, along with lots of other media companies, are potential for us to do partnering, commercial basis or whatever," McAdam said at the Citi Media Conference on Tuesday. "But to say we are having significant acquisition discussions is not accurate."

Verizon shares were little changed in Tuesday morning trading while AOL shares were up nearly 3 percent.

AOL did not immediately respond to CNBC's request to comment on the reports of merger discussions.

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

How the Ruling Allowing AT&T's $85 Billion Acquisition of Time Warner Could Affect Entrepreneurs