AOL will manage the account through their advertising subsidiary, Platform-A Advertising. Verizon will use Platform-A’s sales force and for the bulk of their online and mobile phone advertising.
The deal includes managing Verizon’s display and mobile advertising network. The two companies are involved in a recent lawsuit. On Monday, Verizon sued Time Warner Cable (which owns AOL) over false advertising for their FiOS high-speed Internet service.
In the past few months since Microsoft made their intentions to buy Yahoo known, the online advertising industry has been a saga (like a soap opera!).
Yahoo, MSN, and AOL are vying against Google for a bigger portion of the online advertising market. Time Warner is attempting to win Yahoo to combine with AOL rather than have Yahoo combine with Microsoft.
The price of the deal was not disclosed.