Sledgehammer Games, Infinity Ward, and Treyarch are now producing a new Call of Duty every three years, with each company releasing their version yearly. A three-year-cycle, with annual releases in other words.
Hirshberg told IGN that, "Sledgehammer is approaching this as a next-gen-first development. Obviously in the console-transition year, anyone who developed a cross-generational game last year had to deal with the fact that the technology of the next-gen platforms was still coming into focus and changing quite a bit during the development process... Now that we have the next-gen hardware out in the marketplace and solid, that is our primary development."
So there you go. More Call of Duty games. Yay.