Today Electronic Arts revealed that the next Need For Speed title "Need For Speed Most Wanted" will be developed by Criterion Games.
The below text is from the press release.
EA 2012 Preview, EA's E3 press briefing sponsored by Origin™, will feature leading EA brands: Battlefield 3TM, Medal of Honor ™ , Crysis ® 3, Madden NFL 13, FIFA 13, Star Wars™: The Old Republic™, SimCityTM and highly-anticipated first looks at Dead SpaceTM 3 and Need for SpeedTM Most Wanted from Criterion Games. The event will feature never-before-seen video and gameplay for the biggest titles EA will unveil this year as well as titles not yet announced, including a new social title for Facebook®. The briefing can be viewed live exclusively on SPIKE TV on Monday, June 4 at 4:00 PM ET/1:00 PM PT or streamed at www.ea.com/e3.