Bungie, the game development studio behind the awesome Halo series (Halo, Halo 2, Halo 3, Halo: ODST, Halo:Reach), has announced that they will not be attending E3 2011. They just wanted to make sure that their fans didn't work themselves into a big hype, only to realize Bungie wasn't there.
Activision signed Bungie on for a ten-year development contract; this contract allows Bungie to have a lot of creative freedom and release the game when they want to release it. They plan to make an MMOFPS (Massively Multiplayer Online - First Person Shooter) - from what I've read, elsewhere.
Their game is going to be a humongous universe that there will always be things to do in - which basically defines an MMO. If someone runs out of things to do in an MMO, then they simply give up and go to another MMO. I can't really get into and stay into WoW - it's just too old and it needs a lot of improvements to the battle system... Fighting is really repetitive and boring.
As for Bungie's MMO - I really don't know how they'll make an FPS that is also an MMO and still have room to make it a huge world without much repetition. I am definitely going to try out the game when it's released, if it looks fun.
Source: http://www.gamespot.com/news/6312525/bungie-not-attending-e3-2011?om_act=convert
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