Verizon Communications Inc. (VZ), the No. 2 U.S. telecommunications company, is in advanced talks with YouTube Inc. to bring the Web site's videos to cellphones and television sets, the Wall Street Journal reported on Tuesday.

A deal may give Verizon a marketing edge over its rivals in the wireless and cable industries, furthering the company's efforts to expand into Internet and entertainment services, the Journal reported.

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Under the terms being discussed, customers of Verizon Wireless — Verizon's joint venture with Vodafone Group Plc — would be able to view some YouTube videos on their cellphones through the carrier's premium V Cast service, the Journal said.

Verizon also would offer YouTube videos as an on-demand feature of a TV service it is launching throughout the nation, according to the paper.

A deal may give Verizon the exclusive right to carry YouTube videos for a limited period of time, one person with knowledge of the discussions told the Journal.

YouTube recently agreed to be bought by Web search leader Google Inc. (GOOG) for $1.65 billion.