Wikinews is too dynamic and has it's own set of
problems to merge easily.
It could be done though if given it's own namespace,
and Wikipedia would
definitely benefit.
+1
In the topic area I work there are a lot of contributors writing content
that is vastly more suited to Wikinews. A News: namespace would be really
interesting; but of course it's unfair to step on the toes of a fledgling
project. But perhaps in hindsight it should have been launched as a
namespace.
Tom