With this update we bring a number of large additions and changes to QUAKE LIVE. We have chosen to release this update today rather than on our usual 'Update Tuesday' as next week we make our way to QuakeCon. Beginning August 13th, QuakeCon will become home to the Intel® QUAKE LIVE Masters Championship, Intel QUAKE LIVE Open and the QUAKE LIVE Capture the Flag Championship and a 3,000 person Bring-Your-Own-Computer LAN event. In anticipation, this update is heavily focused on competition and spectator features to raise the bar and secure QUAKE LIVE's place as the best e-sports first person shooter title available.

This update includes the addition of:
* Overtime Game Periods
* New Sudden Death Rules
* Colorizable Brightskins
* Broadcasting friendly spectator HUD
* Competition friendly player HUD
* Shoutcaster info displays
* Clientside Competition Features

Source: Official forum post