Arianna Huffington, who co-founded the liberal news website Huffington Post 11 years ago, has announced she is to step down as editor-in-chief.

IT WILL be a long, drawn-out walk to the exit for Yahoo chief executive Marissa Mayer, sources said — despite her talk on Monday that she was “planning to stay” at the web portal.

YAHOO has agreed to sell its core business to telecom giant Verizon for $US4.8 billion ($6.4 billion), ending a 20-year run by the internet pioneer as an independent company, the firms announced.

Verizon announced Monday that it will acquire Yahoo's core business for $4.8 billion. WIBBITZ

Verizon announced on Monday morning it will buy Yahoo for $4.83 billion in cash. It is the end of a closely-scrutinized, six-month sale process.

US telecoms giant Verizon Communications is to buy Yahoo's search and advertising operations for $5bn (£3.8bn), according to media reports.