There are said to have been discussions among at least one or two people within WWE creative about the idea of building up to a single world title and champion who would headline every PPV and defend against wrestlers on both brands reports The Wrestling Observer Newsletter. The reason this has been discussed is that back in the time when titles were over with wrestling fans they knew who "the champ" was as there was only one top guy. This doesn't happen now with two separate world champions on two separate brands.
Since the creation of two world titles, one for each television show, many feel the company essentially created two Intercontinental champions instead of two credible world champions. The basis for this is that in the 1980s the Intercontinental title was used to main event house shows and drew well, but on its own wasn't going to sellout major arenas. While some title matches in the brand era have drawn well, most haven't meant a thing when looking at PPV buyrates. The general feeling is that the generation of wrestling fans today no longer see the world title as fans may have 10, 20 or even 30 years ago. Instead they see it as a prop and nothing more.
It should be noted that when this idea was brought up to Vince McMahon he was said to be completely negative on the idea. So it doesn't appear there are any plans to go in this direction anytime soon.