This was just published on the Wizards.com website. It a FAQ regarding their new 4E GSL. Here it is, published in its entirety.
There has been a lot of speculation around the details of the new GSL, and I feel like there is need for some clarification. Our intention is to encourage publishers to design for 4th Edition, not to jeopardize independent third-party games published under the OGL. With that in mind, publishers are going to be able to decide — on a product line by product line basis — which platform they will use for developing their products. If a publisher has an existing product under the OGL, we would love for them to update it to the GSL; however, that is not a requirement.
–Scott Rouse, Senior Brand Manager
Dungeons & Dragons 4th Edition Game System License FAQ
Q. Will there be a fee to participate? Do we still have to pay $5,000?
A. The Game System Licenses are royalty-free licenses and there is no developer’s kit fee associated with them.
Q. Can anyone participate?
Q. When can we start publishing GSL products?
A. The effective start date for sales of D&D 4E GSL publications is set for October 1, 2008. The timing for the d20 GSL has not yet been determined.
Q. Is the new license finished yet? Can you provide a firm timeline?
A. The D&D 4e GSL will be released when we launch Dungeons & Dragons 4th Edition on June 6, 2008.
Q. What are the specific details of the license?
A. The specific details will be available to the public upon the release of the licenses.
Q. How will the GSL interact with the OGL?
A. The two GSLs are new licenses, separate from the OGL. They are designed for companies that wish to publish 4th edition compatible products.
Q. Can companies still produce 3.x products under the OGL?
A. Yes, but we anticipate that interest in the 4e GSLs will be greater.
Q. Can publishers release new products under both the OGL and 4E GSL?
A. No. Each new product will be either OGL or 4E GSL. If a new product is published under the 4e GSL, it cannot also be published as 3.x product under the OGL; and vice versa.
Q. I have multiple product lines. If I update one product line to 4th Edition, do they all have to be updated?
A. No. Publishers are able to choose on a product line by product line basis which license will work best.
Q. Will there be a different license for other lines, such as d20 Modern?
A. The d20 GSL will allow for other genres of roleplaying games.
Q. Why are there two different licenses?
A. The D&D 4e GSL is specific to the Dungeons & Dragons brand. The d20 GSL allows for non-fantasy genres. Both licenses tie to the 4th edition rule set.
Q. Do I have to give up my right to publish 3.5 OGL products in order to publish 4e compatible products?
A. No. Publishers are free to print product lines under either the OGL or 4E GSL. We would love to see our industry colleagues convert their entire product offerings to 4E, as we are doing, but we do not expect or require entire companies to convert to the new edition.
Q. Can publishers update their previous publications from older editions to the D&D 4th Edition rules?
A. Yes. Publishers participating in the Dungeons & Dragons 4th Edition GSL will be allowed, and encouraged, to convert their publications from earlier editions to the 4th Edition rules.