If you find Newsweek a provocative, unpredictable read now, just wait until they add the Beast’s stable of “sensible” leftists and RINO all-stars. Can the two co-exist, though? It might be difficult for Newsweek’s down-the-middle, fair-and-balanced staff to cope with Peter Beinart screeching about wingnut McCarthyism or Kirsten Powers musing on “the GOP’s long, hot, racist summer.”

On the plus side: One of America’s most famous weekly news mags might soon feature Meggie Mac’s byline.

It will be a 50-50 merger of the two companies. The editorial staffs will combine under the editorship of Tina Brown, who will again run a high-profile glossy.

Newsweek owner Sidney Harman, 92, and IAC chairman Barry Diller had for weeks disagreed over an operating structure for the hybrid publication. The deal reached today establishes a daily role for Mr. Harman and strong editorial independence for Ms. Brown.

My favorite comment from our Headlines thread thus far: “So now it’s worth $2.” Actually, if you believe Tina Brown’s post last month lamenting the (alleged) end of negotiations with Newsweek, they’re doing darned well traffic wise — 4.6 million uniques per month. Frankly, at this point, I wonder which side is bringing more value to the equation.

Via Mediaite, here’s Meg’s guest shot on Megyn Kelly’s show this afternoon to talk about Palin. She’ll fit in just fine at Newsweek.