These are the packages that would be merged, in order:

Calculating dependencies ... done!
Dependency resolution took 1.02 s (backtrack: 0/20).

[ebuild  N     ] media-libs/libogg-1.3.6::gentoo  USE="-static-libs" 430 KiB
[ebuild  N     ] media-libs/libvorbis-1.3.7-r2::gentoo  USE="-static-libs -test" 1176 KiB
[ebuild  N     ] media-libs/libshout-2.4.6-r1::gentoo  USE="-speex -static-libs -theora" 558 KiB

Total: 3 packages (3 new), Size of downloads: 2163 KiB