Here is an article on it (many more if you just google it)
http://www.wired.com/gamelife/2012/05/elder-scrolls-online/
Before you die hard ES fans get butthurt because you it's an MMO, consider a few points:
-They are developing for Personal Computer under OSX and Windows. This will not hurt the graphics this will may help it. They only need to focus on one piece of hardware, not three. The graphical range will be much wider to cope with graphical limitations of crappy hardware and utilize the best hardware on the market.
-Just because it is an MMO does not mean that it will be a clone of a previous MMO. Bethesda has a rather large following that will purchase the product regardless. Companies like Trion Worlds (Rift) and ArenaNet (Guild Wars) did not have that luxury. They took a few risks, but nothing that could revolutionize an industry. We see treyarch doing this with Black Ops 2. BO2 looks like a different game, different setting, different story structure, and the works. Bethesda has great luxury and they have lots of insensitive to take large risks that may be very progressive.
-I'm just gonna get ganked and I can't play it like Skyrim/Oblivion. While that is true, we must also consider this is not going to be your typical ES game where you explore at your own pace with predictable consequences. This is a different game all together. Have fun, I know I will make for good memories.
Just remember, this is all speculation and it is just a game. Bethesda is not looking to exploit you and turn you into a sheep (at least I hope). Don't loose sleep over it and hopefully it will be fun!
