Lord Mhoram
Hero
I sort of did the reverse - we had 2 concurrent Champions games running with 2 different GMs (I was one of them). For a bit each campaign had similar power leveled characters (I tended to give out more XP, so my campaigns advanced faster). So the two of us came up with a very basic structure that threatened both worlds, and in classic comic book style - we had a cross company crossover. We also had some published companies characters show up (I asked everyone who thier favorite superhero was, built them at let the players use them at times). So in each campaign we played natives, crossover or published campaign. It ran about 4 months, and had a huge ending. It was a great once in a lifetime thing that worked from every angle - note both campaings ran 8+ years, so a 4 month "summer crossover" was just about right.