LucasArts and Bioware are set to make their big announcement today (as reported here) at 2:00pm PST / 5:00pm EST and you can follow along right here at 1up.com's Liveblog.

From 1up.com:

"On Tuesday afternoon LucasArts and BioWare will be holding a formal press event to announce "the official unveiling of the game that's been rumored about for years." The event starts at 2:00 p.m. PST, and we'll be using the latest in Internet technology to attempt to liveblog the presentation.

It seems safe to assume that this event will finally and formally announce the Knights of the Old Republic MMO (or that it's named KOTOR III but takes the franchise in an MMO direction). But then again, there's enough time and ambiguity for LucasArts and BioWare to actually unveil, who knows, the newest Yoda Stories game. Or maybe the highly-demanded follow-up to Super Bombad Racing. "


Keep your fingers crossed for that KOTOR MMO!!!



Thanks to Ben and "DavrosDestiny" for the heads up!




UPDATE: Joystiq will be covering the event with a Liveblog as well. (via EUCantina.net)





UPDATE #2: It's official! LucasArts and Bioware have announced the massive multiplayer online PC game, Star Wars: The Old Republic, thus offically concluding years of speculation. See the press release below:



LucasArts and BioWare Reveal Star Wars: The Old Republic


OCTOBER 21, SAN FRANCISCO - LucasArts and BioWareTM, a division of Electronic Arts Inc. (NASDAQ: ERTS), today announced the development of Star Wars®: The Old RepublicTM, a story-driven massively multiplayer online PC game set in the timeframe of the Star Wars®: Knights of the Old RepublicTM franchise. Star Wars: The Old Republic, being developed and published by BioWare and LucasArts, represents an innovative approach to interactive entertainment, featuring immersive storytelling, dynamic combat and intelligent companion characters.

In Star Wars: The Old Republic, players will explore an age thousands of years before the rise of Darth Vader when war between the Old Republic and the Sith Empire divides the galaxy. Players can choose to play as Jedi, Sith, or a variety of other classic Star Wars roles, defining their personal story and determining their path down the light or dark side of the Force. Along the way, players will befriend courageous companions who will fight at their side or possibly betray them, based on the players’ actions. Players can also choose to team up with friends to battle enemies and overcome incredible challenges using dynamic Star Wars combat.

"Star Wars: Knights of the Old Republic is the most critically acclaimed Star Wars game in LucasArts history and a preeminent example of our company’s interactive storytelling heritage," said Darrell Rodriguez, President of LucasArts. "For a long time, we’ve long wanted to return to the franchise in a grand way, and we felt that the best setting for it was an online world that would allow millions of people to participate in the experience together. We knew that the developer capable of working with us to deliver an engrossing story with a fully-realized online world was BioWare."

"Traditionally, massively multiplayer online games have been about three basic gameplay pillars - combat, exploration and character progression," said Dr. Ray Muzyka, Co-Founder and General Manager/CEO of BioWare and General Manager/Vice President of Electronic Arts Inc., "In Star Wars: The Old Republic, we’re fusing BioWare’s heritage of critically-acclaimed storytelling with the amazing pedigree of Lucasfilm and LucasArts, and adding a brand-new fourth pillar to the equation - story. At the same time, we will still deliver all the fun features and activities that fans have come to expect in a AAA massively multiplayer online game. To top it all off, Star Wars: The Old Republic is set in a very exciting, dynamic period in the Star Wars universe."

Added Dr. Greg Zeschuk, Co-Founder and Vice President Development Operations, BioWare and Vice President, Electronic Arts Inc., "Star Wars: The Old Republic is set roughly 300 years after the events of Knights of the Old Republic, a timeframe that is completely unexplored in the lore. BioWare has been able to add to the Star Wars history in developing the game’s story and has created an overarching narrative that players can enjoy, regardless of their play style. Our goal is to offer players an emotionally rewarding experience that combines the traditional elements of MMO gameplay with innovations in story and character development."

Additional details on Star Wars: The Old Republic features, gameplay and release date will be announced at a later time. For more information about Star Wars: The Old Republic and to sign up for future product updates, please visit www.StarWarsTheOldRepublic.com.



We'll keep you posted as more news and goodies on The Old Republic become available. In the meantime, check out the game's official site and Starwars.com's post here where you'll find screenshots and concept art.

Thanks to everyone who e-mailed in with the big news!