Many thanks go to Bob the Warrior for tipping us off. GameSpot has posted just a few facts about the next big thing being developed by Bungie. It's an RTS game and is currently being called The Phoenix Project. Here's a quick blurb:

While details are still sketchy, we do know that Bungie began development on a possible Myth sequel shortly after completion of Myth II: Soulblighter in December of 1998. Internally referred to as the Phoenix Project, this game will be powered by the graphically impressive Halo engine, which was started by Bungie's Jason Jones soon after development on the original Myth was wrapped up.

It's interesting to note that Take-Two Interactive recently acquired the full rights to the Myth property, and any game based on the Myth universe and any game based on the Myth universe would presumably be owned and publicized by Take-Two. It is unlikely that Microsoft would acquire Bungie only to have them create third Myth game for Take-Two. This means that Bungie will likely alter Phoenix to remove any resemblance between it and Myth and Myth II: Soulblighter, and change the game's name to something completely new. Regardless, this upcoming game will remain in the real-time strategy genre and retain a fantasy universe similar to Myth and Myth II's.

Now we at least know what the fabled next game is being called. This could confirm a leak made by another gaming site awhile ago which described the project (shown to them behind closed doors at E3) as a siege warfare-oriented RTS game. We'll bring you new information as it appears.