The Cosmic Membrane Theory
(Figure 1a: Alternate rendition of what membranes are thought to look like)
Previously noted as String Theory
In the mid 90s, a string theorist named Edward Witten of the Institute for Advanced Study and other important researchers considered that the five different versions of string theory might be describing the same thing seen from different perspectives. They proposed a unifying theory called “M-Theory”, in which the “M” is not specifically defined, but is generally understood to stand for “membrane”. The words “matrix”, “mother”, monster”, “mystery” and “magic” have also been claimed. M-Theory brought all of the string theories together. It did this by asserting that strings are really 1-dimensional slices of a 2-dimensional membrane vibrating in 11-dimensional space. (via wiki)
tl;dr: M- Theory states our universe is a membrane traveling within the 11th dimension, where other odd shaped membranes (Universes) flow in what is now called the Multiverse. This would explain the distortion of space-time and the bending of light as well as other fundamental laws of physics.