This is what's been mentioned elsewhere on the forum since someone took the pics of the Arena seats being removed...
I've seen £30m being chucked around as the budget, and Dr Who as the IP... Plus read about what the ride type could potentially be, including something akin to Canada Wonderland's Wonder Mountain Guardian, which combines a coaster (barely) with dull interactive 3D shooting ride screens (I.e. no actual physical theming)...
If it ended up being that, themed to Dr Who, then I wouldn't really be that impressed, as Wonder Mountain Guardian looks absolutely horrid...
If it was something like Huntik/Thor's Hammer (I.e. Cheap Spiderman), then I might be more intrigued over it... But would Merlin WANT to build a ride like that when 3D screen based rides are just SO much easier to maintain in the long run...
Also, the theme areas might as well not exist these days... Especially after Thorpe's best one in Amity has been butchered so much over the recent years (via Storm Dirge and Angry Birds Land) shows a lack of care in that regard... So it'll be an IP in the same way of Angry Birds, plonked down in the middle of the park with little to no transistion of area...