AOL CEO Tim Amstrong announced on Twitter that Verizon would be merging more than 20 businesses belonging to Yahoo and AOL under a single umbrella called "Oath".

Folks, the moment we've all been waiting for is finally official: Verizon is going to combine Yahoo and AOL into one conglomerate called "Oath". Wow!

Quirky business names are nothing new: after all, Google, Twitter, Yahoo and Yelp weren't always household names. What in tarnation? Is the combination of Yahoo and AOL some kind of demonic telecom funded cult? So far, go90 has fallen short of Verizon's expectations, but the company apparently remains completely committed to the mobile app. Verizon has not said yet whether go90 will become part of Oath.

Apparently not coming along for the ride at Oath will be current Yahoo Marissa Mayer, according to Recode, which reported that the terms of her exit is still being negotiated.

It's not known whether the Yahoo name will continue on as any part of Oath.

"Oath is a brand that will start out as a values-based brand, about connecting our values", Armstrong said.

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'You can bet we will be launching one of the most disruptive brand companies in digital, ' AOL said in a Monday statement.

Yahoo declined to comment on the new name.

What do you think of Verizon's plans for Yahoo and AOL? It initially proposed to sell its online operations for $4,8 billion. Those two hacks stole personal information of more than 1 billion user accounts.

Verizon's offer to purchase the company in a multi-billion dollar buyout was seen as a lifesaver, a way for Yahoo to recover and allow for a restructuring of management.

In February, Verizon and Yahoo agreed to cut the acquisition price by $350 million and to split the cost of any legal liabilities resulting from the breaches.

With enclosure of all these deals, Yahoo as we know it may be done. That name is Altaba Inc, which isn't too much better than Oath.