Per the @XubuntuLinux tweet, Xubuntu is officially going to be based on Debian over Ubuntu.
It’s too early to give further details yet, but rebasing will happen with the 12.10 release. The whole Xubuntu team is very excited about this. With the rebasing, we are able to provide even lighter release than with 12.04.
Parallel to the migration to Debian, and as a logical step after changing our logo, we are thinking of changing the name of the “new Xubuntu”, too. We welcome any name suggestions at Twitter or as comments to this post – let your creativity fly!
Update: Some relevant logs can be found at the Ubuntu irclogs for #xubuntu-devel – see the discussion starting at 8:30PM.
Another update: Wrapping up the name suggestions: Xebian, Xubian and DXubuntu are great suggestions, but the winner is @benonsoftware with AprilFoolsOS! We are truly sorry for any inconvenience caused… While Xubuntu is not rebasing against Debian, the team will continue their efforts with keeping Xubuntu lightweight in the 12.10 cycle too.