The LTSI Linux Foundation blog announced on Monday they are running an LTSI kernel based on Linux 3.4. This kernel will be maintained by their CE workgroup for a period of two years, with the backing from the likes of Hitachi, Sony, and LG.
Right now their LTSI 3.4 kernel is derived from the Linux 3.4.25 release. Features they have back-ported from more recent Linux kernel releases include the Contiguous Memory Allocator (CMA), the AF_BUS as a kernel-based implementation of the D-Bus protocol, Controlled Delay (CoDel) for optimizing TCP/IP network buffer control, and platform-specific board support. The board support they have enabled on their LTSI 3.4 kernel includes the Armadillo 800, AT91, kzm9d, kzm9g, and Marzen.