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

Calculating dependencies  .... done!
[ebuild   Rf  ] media-sound/ventrilo-server-bin-3.0.2  0 kB [1]

Total: 1 package (1 reinstall), Size of downloads: 0 kB
Fetch Restriction: 1 package
Portage tree and overlays:
 [0] /usr/portage
 [1] /usr/local/portage

>>> Verifying ebuild Manifests...

>>> Emerging (1 of 1) media-sound/ventrilo-server-bin-3.0.2 to /
 * ventrilo_srv-3.0.2-Linux-i386.tar.gz MD5 RMD160 SHA1 SHA256 size ;-) ...   [ ok ]
 * checking ebuild checksums ;-) ...                                      [ ok ]
 * checking auxfile checksums ;-) ...                                     [ ok ]
 * checking miscfile checksums ;-) ...                                    [ ok ]
 * checking ventrilo_srv-3.0.2-Linux-i386.tar.gz ;-) ...                  [ ok ]
>>> Unpacking source...
>>> Unpacking ventrilo_srv-3.0.2-Linux-i386.tar.gz to /var/tmp/portage/media-sound/ventrilo-server-bin-3.0.2/work
>>> Source unpacked.
>>> Compiling source in /var/tmp/portage/media-sound/ventrilo-server-bin-3.0.2/work ...
>>> Source compiled.
>>> Test phase [not enabled]: media-sound/ventrilo-server-bin-3.0.2

>>> Install ventrilo-server-bin-3.0.2 into /var/tmp/portage/media-sound/ventrilo-server-bin-3.0.2/image/ category media-sound
install: cannot stat `ventrilo_srv': No such file or directory
install: cannot stat `ventrilo_status': No such file or directory
install: cannot stat `ventrilo_srv.ini': No such file or directory
>>> Completed installing ventrilo-server-bin-3.0.2 into /var/tmp/portage/media-sound/ventrilo-server-bin-3.0.2/image/

* checking 2 files for package collisions
>>> Merging media-sound/ventrilo-server-bin-3.0.2 to /
--- /etc/
--- /etc/conf.d/
>>> /etc/conf.d/ventrilo
--- /etc/init.d/
>>> /etc/init.d/ventrilo
--- /opt/
--- /opt/ventrilo-server/
>>> Safely unmerging already-installed instance...
No package files given... Grabbing a set.
--- replaced dir /opt/ventrilo-server
--- replaced dir /opt
--- replaced obj /etc/init.d/ventrilo
--- replaced dir /etc/init.d
--- replaced obj /etc/conf.d/ventrilo
--- replaced dir /etc/conf.d
--- replaced dir /etc
>>> Original instance of package unmerged safely.
>>> media-sound/ventrilo-server-bin-3.0.2 merged.

>>> No packages selected for removal by clean
>>> Auto-cleaning packages...

>>> No outdated packages were found on your system.
 * GNU info directory index is up-to-date.