iTunes 11 is designed to support the upcoming iOS 6 release, but sources say that it will most likely not be released at the same time. Those familiar with the matter say that we will probably see another iTunes 10.x update that will add support for iOS 6. The iTunes 11 launch will occur further down the road.
9to5 Mac got their hands on a screenshot of the iTunes 11’s “About iTunes” screen and is also reporting that they have had the opportunity to see more of the product. iTunes 11 allegedly will sport a dedicated iCloud settings panel that is centrally located within iTunes. Some of the features purported to be included in this release will be iTunes Match, iTunes in the Cloud, iCloud iOS device backups, and more.
source: 9to5 Mac