Nickelodeon has greenlit a continuation of its wildly popular animated series Avatar: The Last Airbender from creators Michael DiMartino and Bryan Konietzko. This would be the "Untitled Avatar the Last Airbender Project" that cropped up in early May.
Tentatively titled The Legend of Korra, the new series takes place 70 years after the events of Avatar: The Last Airbender, and follows the adventures of Aang's successor -- "a passionate, rebellious and fearless teenaged girl from the Southern Water Tribe named Korra":
With three of the four elements under her belt (Earth, Water, and Fire), Korra seeks to master the final element, Air. Her quest leads her to the epicenter of the modern "Avatar" world, Republic City -- a metropolis that is fueled by steampunk technology. It is a virtual melting pot where benders and non-benders from all nations live and thrive. However, Korra discovers that Republic City is plagued by crime as well as a growing anti-bending revolution that threatens to rip it apart. Under the tutelage of Aang's son, Tenzin, Korra begins her airbending training while dealing with the dangers at large.
The Legend of Korra will premiere sometime in 2011.