Criterion is famous for its Burnout series, which is published by EA. EA, of course, is home to the Need For Speed series. This led to rumours that Criterion would eventually take the wheel for a Need For Speed game.
Now those rumours have been confirmed, by EA COO John Pleasants. The news is literally just a confirmation for now, with no details or even a working title.
Given EA is currently overseeing development of Need For Speed Shift, we'd expect Criterion's effort to be somewhat different. The question is - how different?