The specs are pretty much the same as previous reports — a modern chipset, an App Store, HomeKit, and Siri. Which makes sense given the last update was March, 2012 and Apple has updated a lot of their core technologies since then. John Paczkowski, writing for BuzzFeed:
As for the new Apple TV box itself, expect an updated design and new innards: the company's latest A8 system-on-chip — or a variant of it: a dramatic increase in on-board storage to accommodate app downloads — well beyond the 8GB in the current device; and an improved operating system that will support Siri voice control Apple TV, and enable it remotely for a selection of Homekit-enabled home automation devices.
It's all in line with what Rene wrote earlier this week on the future of Apple TV. (Though there's no indication "Apple TV Direct" has gotten any traction.)
Apple has been reported to be making some big moves in TV recently. The company will be the exclusive launch partner of HBO Now, the standalone streaming service from HBO, and they have been said to be working on their own subscription TV service to debut this fall.
The new Apple TV has been rumored for launch several times over the last couple of years, hopefully this time's the charm.