Though very frequently assumed, the necessity to operate a joint processing of simultaneous magnetoencephalography (MEG) and electroencephalography (EEG) recordings for functional brain imaging has never been clearly demonstrated. However, the very last generation of MEG instruments allows the simultaneous recording of brain magnetic fields and electrical potentials on the scalp. But the general fear regarding the fusion between MEG and EEG data is that the drawbacks from one modality will systematically spoil the performances of the other one without any consequent improvement. This is the case for instance for the estimation of deeper or radial sources with MEG. In this paper, we propose a method for a cooperative processing of MEG and EEG in a distributed source model. First, the evaluation of the respective performances of each modality for the estimation of every dipole in the source pattern is made using a conditional entropy criterion. Then, the algorithm operates a preprocessing of the MEG and EEG gain matrices which minimizes the mutual information between these two transfer functions, by a selective weighting of the MEG and EEG lead fields. This new combined EEG/MEG modality brings major improvements to the localization of active sources, together with reduced sensitivity to perturbations on data.