Adobe Engulfs Macromedia: Gruber's Take
I'm late on this, Laurie and C.K. both beat me to the punch by days, though better late than never, right?
Just in case you don't speak PR talk John Gruber, the Daring Fireball himself, has posted a very handy 'Translation From PR-Speak to English of Selected Portions of Adobe's 'FAQ' Regarding Their Acquisition of Macromedia' guide.
I think that Gruber sums up the whole merger nicely, 'Once Freehand, Fireworks, and GoLive are killed, customers will have the benefit of not having any competing apps to choose from, and we benefit from not having any competitors.'