According to Eric Williams at TNT, the league will be holding a press conference in NYC between 1 and 2 pm East Coast Time (10 to 11 here), although Percy Allen at the Times expects the conference to be later than that.
Of note, the press conference will be broadcast on both NBA TV as well as nba.com. Stay tuned; if we find a link we'll throw it up on the site.
However, being that Clay Bennett and David Stern will be giving the conference, it might be considered NSFW.
UPDATE: Press conference has been delayed until no earlier than 12 pm Seattle time. Apparently, Clay and David still had some things to do.