Yes its true if you don't have a blogger.com blog yet Google will probably control your blog in some form or fasion soon enough :-( Their shopping cart is only increasing in size as their stock breaks $500 per share once more.
"Unlike the rumor that FeedBurner is nearly code-complete on a multiplayer Wii edition, the blog posts, phone calls and conjecture about our future as part of the Google family tree are now officially true.
FeedBurner has been acquired by Google. The local weather forecast calls for general euphoria with intermittent periods of off-the-rails delight."
Quote Source: Google Buys Feedburner Deal
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