During their Nintendo Direct conference this morning, Nintendo revealed that the next Smash Bros. game will be developed by Namco Bandi in conjunction Project Sora (the studio behind Kid Icarus: Uprising). IGN recently confirmed that “Tetsuya Akatsuka (the art and sound director for the SoulCalibur series) and the main development team from the Tekken series will be working on the project alongside Director Yoshito Higuchi (Tales of Vesperia) and Producer Kenya Kobayashi (Ridge Racer)” however the series creator Masahiro Sakurai is still heading up the project.
The game will be released on both the Wii U and the 3DS, release date is still TBA.
