It is the kind of deal most people would have thought would go to Microsoft (NASDAQ: MSFT) or Google (NADSAQ: GOOG). Verizon (NYSE: VZ) will out-source the advertising sales for all of its internet operations.

In an arrangement that bypassed the usual subjects, AOL, a division of Time Warner (NYSE: TWX) will handle selling Verizon's online inventory through the web portal's advertising network and marketing operation called Platform A. According to Reuters, "The Verizon ad deal, whose price was not disclosed, will give Platform A the right to represent all of Verizon's advertising space on the Internet, including premium space."

In the last year, Google, Microsoft, and Time Warner have all made purchases of businesses that will help them sort, target, and sell online ads. Large web operations like Facebook and MySpace have already cut deals for having one of the large portals or search companies to sell their inventory, but AOL has not been in that mix.

It looks like the incumbents for online advertising representation have a new competitor.

Douglas A. McIntyre is an editor at 247wallst.com.