Be careful where you get your news from. The "fly by" media often get it wrong. The article below is from the United Continental Holding website.

United Continental Holdings, Inc. - Investor Relations - News

United and Continental Announce Merger of Equals to Create World-Class Global Airline

HOUSTON & CHICAGO, May 03, 2010 (BUSINESS WIRE) --Continental (NYSE: CAL) and United (NASDAQ: UAUA) today announced a definitive merger agreement, creating the world's leading airline with superior service to customers, expanded access to an unparalleled global network serving 370 destinations around the world, enhanced long-term career prospects for employees, and a platform for improved profitability and sustainable long-term value for shareholders. The all-stock merger of equals brings together two of the world's premier airlines, creating a combined company well positioned to succeed in an increasingly competitive global and domestic aviation industry.