Carmageddon 2011 Summary
A rather hefty sum was forked over by Carmageddon creator Stainless Games to get the IP back in their hands, but only because Square Enix bought Eidos.
They had tried to get Eidos to sell them the IP back, or at least get licensed work for it, but it never happened. Square selling it was a "surprising decision".
Publisher Square Enix don't hold the rights to Carmageddon or its website as they, or rather Eidos, used to. Stainless was the creator of the Carmageddon series.
It will apparently be announced at E3 but won't be shown on the floor. The rights have returned to Stainless, but don't seem to be behind the development.
A countdown as started at a site registered to Square-Enix called www.carmageddon.com. The countdown is ticking down towards June 1, which will presumably unveil the next generation of Carmageddon.