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A big buy for telecom giant Verizon... Breaking out the checkbook to purchase AOL for a hefty price tag.

FOX News Radio's Gurnal Scott reports:

Long-time techies remember it as 'America Online' the internet and messaging provider that was always quick to say...

(AOL) "You've got mail!"

While other companies have supplanted AOL as the internet has grown, Verizon still sees some value in it -- about $4.4 billion worth.

Verizon is seeking to make a bigger splash in mobile communications and take advantage of AOL's sizable advertising and streaming video services.

FOX Business reports the deal is expected to close this summer, should federal regulators approve it.

Gurnal Scott, FOX News Radio.