UPDATE: Marvel Announce Their Next Big Event "Fear Itself"!

Thanks to Comic Book Resources for the following highlights from the panel: (you can find more by following the link above)

"What happens when fear gets so prevalent that it seems the norm?" he said, and added that the line between hero and villain will be blurred... and crossed.

Matt Fraction spoke about the series in another video, adding that the Marvel heroes would be fighting the god of fear. "You will not feel underserved on any level," Fraction said. "We are going to be busting the doors down with the biggest story we've ever told."

Brevoort acknowledged that fans had asked for a break from big events and Marvel largely took the last year off, but is now returning with a story "as ambitious as 'Civil War.'" The series itself will be 7-issues, and Ed Brubaker will be writing a prelude with Cap and Namor, with a title to be named later.

"There is a concealed act at the center of the Marvel universe that was committed a number of years ago, and it will change everything," Brevoort said. "And that, in essence, is what 'Fear Itself' is all about."

Brevoort brought Alonso on stage and, before handing the mic over, noted that readers can choose to just read the core series but many series will also be involved.

Alsono took over saying "Fear Itself" is "an extinction-level event." "It's a major event that involves everyone--expect major participation from X-Men, from Dracula ... and alliances you wouldn't have expected."

Brevoort added that Marvel had been "setting up some dominoes" for a while now, some of which readers will have recognized and others will have been glossed over.

Brevoort would not say anything more about "Fantastic Four," but "whatever's left of the 'FF' after that deathbag issue, they will be involved."

The first issue of "Fear Itself" will be about 45 pages, and the final issue will probably also be oversized. The price point is expected to be $3.99.

"Fear Itself" will have afterefects reverberating throughout the Marvel Universe, Brevoort said. "It will be a sad story that they refer to again and again and again until you are sick of hearing about it."