Verizon wraps up $4.4 billion AOL purchase and hints at upcoming mobile video service

Industries Associated Press

Verizon is launching a mobile video service this summer that would show sports, concerts and other types of content.

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The country's largest wireless provider teased a few details of its upcoming offerings Tuesday while announcing it had completed its $4.4 billion purchase of AOL Inc. The deal is designed to help Verizon Communications Inc. expand in mobile video and advertising as more hours are spent watching video, reading and shopping on phones and tablets.

Viewers have increasing options for online video services, including Dish's Sling TV and HBO Now.

Verizon's mobile video service will work on competitors' networks as well as on Wi-Fi and will include ad-supported data, says Verizon executive vice president Marni Walden. That could mean an advertiser pays for some of the data required by the video service.