Source : Free On-Line Dictionary of Computing

film at 11
     
         (MIT, in parody of US TV newscasters) 1. Used in
        conversation to announce ordinary events, with a sarcastic
        implication that these events are earth-shattering.  "{ITS}
        crashes; film at 11."  "Bug found in scheduler; film at 11."
     
        2. Also widely used outside MIT to indicate that additional
        information will be available at some future time, *without*
        the implication of anything particularly ordinary about the
        referenced event.  For example, "The mail file server died
        this morning; we found garbage all over the root directory.
        Film at 11." would indicate that a major failure had occurred
        but that the people working on it have no additional
        information about it as yet; use of the phrase in this way
        suggests gently that the problem is liable to be fixed more
        quickly if the people doing the fixing can spend time doing
        the fixing rather than responding to questions, the answers to
        which will appear on the normal "11:00 news", if people will
        just be patient.
     
        [{Jargon File}]
     
        (1998-03-24)