Kojima Productions head Hideo Kojima this morning announced that The Phantom Pain and Metal Gear Solid: Ground Zeroes combined is actually Metal Gear Solid V, the first next-gen game from Kojima Productions running on its powerful FOX Engine. The news was revealed today during a FOX Engine panel at the Game Developers Conference. Kojima announced the combination of the previously announced concepts in a dramatic fashion, with his head wrapped in bandages, presumably as his alter ego Joakim Mogren. They provided a sneak peek trailer at the game's opening sequence, where Snake is attempting to escape from a hospital -- the trailer previously teased in late 2012. As FOX Engine is a next-gen platform, we're assuming that the game is heading to next-gen consoles, but Kojima's not saying anything solid just yet.
Update: GamesHQMedia managed to snag a trailer of the game, which we've embedded below.
Update 2: We initially thought that The Phantom Pain and Metal Gear Solid: Ground Zeroes were combined into one game, but Siliconera has learned that they are actually two separate titles. Ground Zeroes is essentially a prologue to The Phantom Pain, and will be available on both the Xbox 360 and the PlayStation 3.