Google announced they are merging three of their popular tools, the Contextual Targeting Tool, the Placement Tool and the Google Ad Planner into a single tool under the Google Display Planner.
Google said this should make "everything easier" having all these tools in one place. I'd have to assume that some of the functionality will be lost but hard to say at this point.
Google said on Google+ that the Contextual Targeting Tool and the Placement Tool will be sunsetted in the next few days, and Google Ad Planner will be deprecated sometime in early September.
Here is a video on the display planner tool:
Forum discussion at Google+.