Nothing has merged - it arguably similar to when Fox distributed MGM/UA and Lionsgate discs - I doubt either will have the other's logos as Fox did. Warner did something similar with Paramount when the mountain decided to exit home video distribution stage (or screen) left ...
;)!
I suspect -as even a youngish Bryan noted - the "cheesy" SPFX wouldn't fly with a post Star Wars (TM LucasFilm) Episode IV: A New Hope crowd. Worse for me - I saw Carol Burnett's send up
before I saw GWTW in 16mm - pre-Turner - so I may laughed at the wrong place...