No, Corel just acquired the Pinnacle products that Avid acquired not that long ago. Don't stress.
It's actually probably better, Corel have been looking towards consumer-level editing for a while, after their acquisition of Ulead. This gives Avid a chance to re-focus their efforts on professionals again, as it's not like they did all that much to the Pinnacle products, other than give them a bit of an Avid touch-up.