Electronic Arts' Need for Speed racing franchise has been on a downward spiral in the past few years, and even EA admits it. They're now taking steps to recapture the franchise's glory days, and among their gambits is tapping Burnout devs Criterion Games for a new Need for Speed title set for release in 2010.

The Burnout Team is doing Speed. Need for Speed, that is. Electronic Arts CEO John Riccitiello clarified that the NFS and Burnout franchise will NOT be merging into one, although the Burnout Team, frontlined by Alex Ward of Criterion Games, will be taking care of the next NFS iteration.

If you're one of the many burners in Criterion Games' Burnout Paradise (PlayStation 3, Xbox 360), then you might want to check out this news update: there will be a PC version of everyone's car-smashing game in the very near future, with loads of added content packed in. Great announcement or greatest announcement? You decide in the full article, which is waiting for you after the jump.

Electronic Arts apologized for the misunderstanding brought about by the rumors from yesterday's list of games that were supposedly in production from BioWare. EA recently released a statement to Shacknews which clarified the slide showing the upcoming Star Wars: Knights of the Old Republic and new MMO title from BioWare. Find out what EA had to say in the full article.