Verizon snaps up AOL for $4.4b

Move comes as media landscape becomes increasingly disrupted on several fronts

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.