New Ultima Revealed: Free Online Strategy Game
A free-to-play browser-based offering, Lords of Ultima is described as "an online strategy game where you build your own unique city and play with thousands of other players."
Development is being handled by EA Phemonic, most recently responsible for the similarly multiplayer-focused free-to-play online RTS-RPG BattleForge (PC).
Further details are slim, with the game currently in closed beta and only one server running at the moment. However, it appears that anyone can register and play in the ongoing beta through the game's official site, provided there's room on the server.
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I hope they run ads now that say, "PLAY FOR FREE DISCREETLY" with Lord British clutching his clasped hand against his ample bosom.