In case you are wondering how this is possible, this is what I did -
- For the blog to be deleted, Selected Settings -> export blog
This creates an XML file on the local machine.
- Next, import this to the blog that will be retained, Settings -> Import blog
Provide the same file name that was exported. Option exists to instantly publish all imported articles after importing.
- Go back to the first blog and delete it now, Settings -> Delete blog.
One bad point would be that all site related hit statistics would be lost for the deleted blog, in case this is important.. another would be that if the deleted pages were being referred somewhere, these would produce missing links. I can live with this for now.. Cheers.