A statement on the Ultima Online website reads:
"These are exciting days for MMORPG fans here at EA. With the acquisition of Mythic, the UO team will be working with the creative folks who brought us Dark Age of Camelot and are hard at work on the spectacular-looking Warhammer Online: Age of Reckoning."
The statement goes on to add: "There is much to talk about with our new partners, and it will take some time to review and finalize our plans. Because we need to take that time, we are postponing the announcement that we were going to make this week. The in-game fiction cycle will take a break for a bit and will return soon."
What exactly the teams are working on together isn't clear, and would the postponed announcement have revealed a new Ultima Online game? We'll have to wait and see.