Unconfirmed: Bethesda to Publish Arkane Studios-Developed Title

The eagle-eyed sleuths at Superannuation have spotted a few pieces of evidence suggesting that Arx Fatalis and Dark Messiah of Might and Magic developer Arkane Studios is working on two unannounced "AAA" titles - including one for Bethesda Softworks.
Zenimax/Bethesda/Arkane Studios: TBA

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2008 2010 Arkane Studios (15 months): Project Manager and Lead Designer on a triple A multiplayer still not announced for 360, PS3 and PC. Released in early 2011.

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Tester / Playtester
Arkane Studios
(Privately Held; Computer Games industry)
July 2009 Present (1 year 2 months)
Project : SpecOps The Line
Platform : PC, Xbox 360 and Playstation 3

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Arkane currently has two AAA unannounced titles in development (PS3, Xbox 360 and PC)
We obviously don't know if any of this news is role-playing related, but given the two companies' track records, it's certainly plausible.