As reported on Wikipedia:
Mac OS X 10.6 "Snow Leopard" is an Apple operating system which is to succeed version 10.5 "Leopard". Apple's senior vice president for worldwide marketing, Phil Schiller, announced Snow Leopard at WWDC on 8 June 2008. Snow Leopard will ship in September 2009 and an upgrade will be available for existing Leopard users for $29 US, or up to five computers with the family pack at $49 US. Tiger users may upgrade by purchasing the Mac Box Set, a single package which will include Snow Leopard, iLife '09, and iWork '09.
The update to Mac OS X will focus on improving performance, efficiency and reducing its overall memory footprint, rather than new end-user features. This will also be the first Mac OS release since System 7.1.2 not to support the PowerPC architecture as Apple now intends to focus on its current line of Intel-based products. Developer previews have been seeded to developers.
Additional information about Snow Leopard can be found on Wikipedia and on Apple.
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