Merge Sky News with The Times?

There was already a great shift online, but the recession has brought a great depression to the old media companies.
Newspaper circulations are falling as readers transfer themselves onto the world wide web.
All newspaper brands are moving their operations, from breaking news to features and comment on line first.
In TV we have seen the failings of several companies such as ITV and FIVE, who need to make cost savings.
Most of BSkyB's operations are profitable, as they are the gatekeeper to the satellite subscription service in the majority of homes,
But Sky News has always been free to air, a public-spirited drain on BSkyB.
The Times and Sky News being part of News Corporation and both have excellent facets. Sky News is well know for breading news, but has a poor website and a undeserved downmarket reputation. The Times has been a newspaper brand since 1788 and has an excellent website, but no TV presence:
Times Online seeks Sky News link-up - Media - guardian.co.uk
So, isn't it about time to merge the two together? Use the 220-year-old title for the TV channel, rebrand it to match The Times and use the commentators and features from the newspaper to rebalance the channel. The "The Times" [of London] news channel could perhaps compete for seriousness with the BBC News channel?