Previewed at WWDC, launching in the fall.
Apple Finally Discontinues Shake? [Updated]
Shake was originally launched in 1997 as a product of Nothing Real, which was acquired by Apple in early 2002. Apple continued to update Shake over the next several years, but the release of Shake 4.1 in mid-2006 was accompanied by the announcement that no further software updates were planned. A minor update to version 4.1.1 was issued in late 2008.
At the time of Shake 4.1's release, rumors claimed that Apple's replacement for the software package, code-named "Phenomenon", would be based on Apple's Motion software and released in 2008. While such a standalone product has not surfaced, it is possible that Apple finally views Motion 4 and other components of the updated Final Cut Studio released last week as a sufficient replacement for Shake's features.
Update: Apple's Shake product pages now redirect to the Final Cut Studio main product page.