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Shares of AOL Inc. (NYSE: AOL) were up more than 7% this morning in pre-market hours on news that Verizon Communications Inc. (NYSE: VZ) has approached the firm about a possible merger or joint venture. However, no formal offer has been extended yet. AOL has long been linked to a possible merger with Yahoo! Inc. (Nasdaq: YHOO). Bloombergreports that Verizon is looking to boost its mobile-video offerings.