Yes, it's true -- this was part of the settlement agreement by which AA and Sabre settled their outstanding lawsuits against each other.
Sabre Sonic is essentially the same reservations system you already have, but with a handy-dandy GUI on top of it. When I saw it, I wasn't impressed.
I personally think that there are several better alternatives out there, including the system offered by my employer -- Altea. It's used by about 100 airlines worldwide, including more than half the airlines in Star Alliance (LH, OS, AV, JJ, TP, SQ, SA, LO, OZ, A3, MS, TG), Oneworld (AB, AY, BA, BD, CX, IB, RJ, and QF), and Skyteam (AF, KL, ME, SV, RO, KQ, UX, OK, KE and GA). WN also signed up for it earlier this year. Those airlines didn't want to be sitting on 40 year old technology...
Sabre Sonic? It's used by about 30 airlines, including B6, F9, AR, VX, WS, AS, LA, AM, SU, GF, and soon, EY & VA.