Source: PWInsider.com
Daniel Bryan will be undergoing surgery on Thursday for a broken neck. The break is said to be minor, not something that is a neck fusion that many superstars have had before. The belief is that Daniel Bryan could be on the shelf for 6-8 weeks.
If that is the case, Daniel Bryan will be out and WWE are planning to have him return at SummerSlam. While nothing has been confirmed, Daniel Bryan's injury is not something that happened from one move. It has been over a few years where his neck has been taking damage because of his work in the ring.
When surgery is complete, WWE will then make the decision on the WWE World Heavyweight Championship. If they get a bad report on the surgery and the timeframe for his return is extended, WWE will most likely strip him of the championship and come up with plans to crown a new champion.
Nothing regarding the WWE World Heavyweight Championship has been confirmed, as they will hold off until as late as possible to make a decision.