But it will be competing against a slew of other companies also looking to break in.
The Yahoo deal came after activist investors led by Starboard Value lost faith in Yahoo Chief Executive Marissa Mayer, who was hired in 2012, and forced the sale of the company's core assets.
Djokovic in great Paris escape, Nadal cruises
Belgian 10th seed David Goffin quit his third-round match after suffering an ankle injury when he got caught up in court covers. He has a 58-11 win-loss record behind Rafael Nadal (75-2) and Roger Federer (65-16) while Vilas recorded 58-17.
According to TechCrunch, Verizon will downsize staff at AOL and Yahoo by about 15 percent once the merger is finalized.
Together, AOL and Yahoo own a number of prominent brands, including The Huffington Post, TechCrunch, Engadget, Tumblr, Flickr and MovieFone.
Mr. Armstrong chose his leadership team several weeks ago, and that group has helped determine where the layoffs will occur, the person said.
Tech news website Recode reported this week that as many as 1,000 jobs could be shed as redundant positions get eliminated at combined AOL and Yahoo operations.
"Consistent with what we have said since the deal was announced, we will be aligning our global organization to the strategy", AOL wrote in a statement.
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