08/21/2009 10:28 am ET | Updated May 25, 2011

Fox News, SyFy Channel to Merge

In what is being described as a masterstroke of media synergy, Fox News Channel and the Sci Fi Channel, also known as SyFy, announced today that they would merge their operations.

Rupert Murdoch, whose News Corporation owns Fox, said the merger would achieve significant cost savings: "We will be sharing content, which, quite frankly, we were already doing."

Roger Ailes, chairman of the new combined network known as SciFox, said that it would roll out a slate of new shows in the fall, including Bill O'Reilly's "Galactica Factor."

Mr. Ailes said that he was also looking to sign the woman whom Rep. Barney Frank excoriated at a health care town hall this week: "We want to find out what planet she spends most of her time on and have her do a show from there." More here.