Superior Threads did change ownership, but not bought out by Connecting Threads. It was purchased by Crafts Americana which also owns Connecting Threads. Whether or not Superior and CT become one, time will tell. Based on previous observations I don't think they will, and hope they don't.
I don't like to see changes like this however. The hew "owners" typically try to change things up a bit, and the first thing addressed is reducing costs. More often than not this results in a quality issue. I've yet to see the case where things improved under new owners. Lets hope this isn't the case here.
The first sign for me is whether or not they continue as a vendor at quilt shows.