Verizon Communications Inc. agreed to buy AOL Inc. in a deal valued at $4.4 billion, getting access to automated advertising technology and digital media clips that will help it make more money from mobile video.

Verizon, the largest U.S. wireless provider, will pay $50 a share, a 17 percent premium over AOL’s stock price on Monday. AOL Chief Executive Officer Tim Armstrong will continue to lead AOL’s operations after the deal is completed, the companies said Tuesday in a statement.

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