Platform A, AOL's centralized advertising effort, scored a major victory Monday when it landed Verizon Communications Inc.'s online advertising inventory.

The deal allows Platform A to represent all of Verizon’s advertising space, including ads for Verizon Wireless, across the internet. Terms of the deal were not disclosed.

The move is a huge triumph for AOL, as the one-time internet juggernaut transforms itself into an advertising company.

The news comes amid two large shakeups in the AOL world. Last week, Verizon filed suit against AOL's sister company, Time Warner Cable Inc., for false advertising about its Verizon FiOS internet service.

Meanwhile, AOL is a major player in the Microsoft/Yahoo soap opera, with talks to combine forces with Yahoo to counteract Microsoft's bid.