During a press event held in London, Bethesda VP Pete Hines announced development of a new game in the Fallout series entitled Fallout: New Vegas. This title will be developed by Obsidian Entertainment and will release next year on the Xbox 360, PlayStation 3 and PC.
Few other details were released at this time, only that this game is not a direct sequel or spin-off. Pete Hines directly stated, "It's not Fallout Tactics -- it's not Brotherhood Of Steel. It has no impact on what Todd Howard and his guys are planning."
Many staff members from Obsidian are former Black Isle employees who worked on the first two Fallout games. Along with creating original content, Obsidian is well known for developing sequels to BioWare original IPs such as Knights of the Old Republic II: The Sith Lords and Neverwinter Nights 2.