http://wizards.com/dnd/Article.aspx?x=dnd/4ll/20140527
Basicaly, they are going to put basic D&D as a free PDF on their site, it will include Human, Elves, Dwarves and Halfings, and Fighters, Clerics, Wizards and Rogues from levels 1-20.
The classes in the Basic game are going to be the simplest version of them, and it probably won't include feats and will include fixed subclasses.
Later on (in August) they are going to release DM rules and some basic monsters.
All in all, great news, people won't have to buy any of the books to start playing D&D, so that's a good thing IMO.
Warder