Fedora.next is an umbrella phrase for the shape of Fedora in the post-F20 future.
This all came out of a number of proposals at Flock 2013, including Architecture for a More Agile Fedora and Stephen Gallagher's suggestion that we use that architecture to design, build, and market three distinct Fedora products. This grew into a proposal accepted by the Fedora advisory board, and the formation of Initial Working Groups by FESCo.
We have five working groups. These are independent sub-committees of FESCo, with individual governance structures (being worked out now). For the initial design phase (until January 2014), each group consists of one FESCo liaison chosen by FESCo plus eight other voting members. These groups are working on the development of Product Requirements Documents, to be presented to the Fedora Advisory Board for ratification.