New Xbox reveal: Steven Spielberg to produce "Halo" TV series Microsoft on Tuesday is unveiling the successor to the Xbox 360 at a news event at its Redmond, Wash., campus, pulling back the curtain on its home console plans just weeks before the June Electronic Entertainment Expo in Los Angeles. Hero Complex will be live blogging the news right here on this starting at 10 a.m. Updates will be posted below. We'll be working fast, so please forgive any typos. Microsoft is the last of the major home console makers to disclose its next generation system. Nintendo's Wii U was released in late 2012 and Sony threw a lavish press event in February to announce its PS4, although Sony didn't actually show the system in action. Rumors of new Xbox features have included some form of new embedded Kinect, always-on Web integration and the ability to act as a cable box. Both the new Xbox and the PS4 are expected to be released by the end of 2013. Since Sony revealed some of the details on the PS4, which the company described as a "supercharged PC" with a revamped, touchpad-enabled controller, there's been plenty of speculation as to what direction Microsoft would take. Microsoft has hyped that Tuesday's reveal will dazzle by presenting a "new generation of games, TV and entertainment," all of which indicates the company will reveal far more than just games. The 8 year-old Xbox 360 is going out on top. The console has now been the top-selling hardware platform in the U.S. for 21 consecutive months, based on unit sales, according to research firm the NPD Group. 10:02 a.m.: Microsoft launched its event with a video full of grand pronouncements from A-listers such as Steven Spielberg and J.J. Abrams, as the company promised that "for the first time you and your TV are going to have a relationship." The new Xbox will set "your imagination free," Spielberg said. After the video, Microsoft exec Don Mattrick took the stage and said a few words that will likely disappoint all gamers tuning in today, noting that at E3 the company will reveal what's next for Xbox 360 when it comes to games. Still, Mattrick said the new system will be the "ultimate all-in-one home entertainment system." And with that Mattrick revealed that the new Xbox is titled Xbox 1. It looks to have motion-sensing Kinect built straight in, which is good news for those sick of multiple cords, and the controller looks largely unchanged. The presentation then received a massive round of applause from the gaming press assembled at the venue. 10:15 a.m.: Microsoft exec Yusuf Mehdi appeared onstage to show off how fast Xbox 1 supposedly is and how it responds to voice commands. "Xbox on," for instance, turned on the system. "Xbox game" sent the console to games. Mehdi also noted that the system will recognize universal hand gestures, such as swiping up or swiping across, using Kinect. Mehdi said the Xbox will have something called "snapmode," which allows players to open multiple screens in Windows-like tiles. One example shown was watching a basketball game and using voice commands to bring up your fantasy league in a sidebar. It's what Microsoft calls "interactive TV." 10:34 a.m.: Microsoft exec Marc Whitten took the stage to unveil some of the system's specs. Xbox 1 will boast 8 gigabytes of system memory, a 500 GB hard drive, a Blu-Ray drive and USB 3.0 and HDMI connections. Whitten said Xbox 1 will be tied to a specific user's voice and its commands will be "conversational." As far as the controller, Microsoft said its new device boasts "40 design innovations," many of them used to enhance ergonomics and control precision, such as a newly shaped D-pad. From the home office in L.A., these like look tweaks and not a complete overhaul such as for the Wii U or PS4 controllers. For those skeptical about new Kinect abilities, Microsoft said Xbox 1 can recognize your heartbeat while you're working out. He showed off "Kinect skeletal," which was used to highlight the joints the new Kinect will recognize. Much of Xbox 1"s content will live in the cloud. Users can also pause, record and rewind their game play. 10:46 a.m.: 343 Industries head Bonnie Ross announced that Steven Spielberg will be the executive producer of an original "Halo" live-action television series. "For me, the "Halo" universe is an amazing opportunity for the intersection" of "mythmaking and technology," Spielberg said via a video. It looks to be called "World of Halo" and will be exclusive to the Xbox ecosystem. 10:50 a.m.: Microsoft exec Phil Spencer said more titles were in development right now by Microsoft's in-house game studio than at any time in Xbox history. Fifteen games are coming from Microsoft Studios in the first year of of the release of the new system, eight of which are new IPs.