As rumored earlier, during Develop conference, Epic's founder Tim Sweeney confirmed that the company is indeed working on a new AAA shooter game.

Unfortunately, other than a simple confirmation that a new AAA shooter is indeed coming, Tim Sweeney did not reveal any more details leaving the community guessing which title will it actually be. The best guess is that Epic is currently developing a sequel of the Gears of War title for Xbox One launch.

Some rumors also suggesting that we might even see a new Unreal Tournament title but so far Epic only confirmed the development of the Fortnight, a title that many describe as a mix between Minecraft and Left 4 Dead.

Most earlier rumors suggest that the new Gears of War title is indeed coming but will not be announced until next year.

Source: Eurogamer.net.