Verizon’s Risky Bet on AOL’s Ad Business

Verizon’s proposed acquisition of AOL looks promising on paper, but the devil is in the details.

In announcing plans to buy AOL for $4.4 billion, Verizon is betting that it can lead the future of television as it explodes from the living room to computers, smartphones, and tablets. But at least in the near term, it faces plenty of headwinds.