Verizon: We're Not Buying AOL

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Verizon CEO Lowell McAdam denied rumors that it would buy AOL at a conference on Tuesday, according to Re/code's Ina Fried.

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

Verizon seems more interested in partnering with AOL than buying them outright.

On Monday Bloomberg reported that Verizon was considering buying AOL, but that formal talks hadn't begun yet. But the report also said a joint venture was a possibility, and McAdam seems to be pointing to that as much more likely.

Verizon's interest in AOL may be to keep up with AT&T, which acquired DirecTV last year.