http://www.dccomics.com/dccomics/ (check the banner)
http://dcu.blog.dccomics.com/2012/02/01/everyone’s-talkin’-about-“before-watchmen”/ (this link is getting hammered, and has been 404’d most of the day)
So yeah, they’re doing a prequel to the Watchmen series. Sounds like its mostly just to make a new movie.
Somewhere, Alan Moore is cooking eggs on his forehead