According to someone closely involved with Activision and the Call Of Duty franchise, Modern Warfare 3 is definitely in the works. Whether or not MW3 is one and the same project as the rumoured sci-fi CoD (after trademarks were filed for things like ‘Space Warfare’) is unclear, but word that MW3 is happening is going to bring a lot of thunder nonetheless.
This “closely involved” individual told the LA Times that there are three developing studios working on this FPS monster; Sledgehammer, Infinity Ward (what’s left of them), and Raven Software. Whether this is cleanly split between a campaign, a multiplayer, and some other fancy feature is anyone’s guess, but what we can conclude is that Activision intends this to be BIG.
November is a long way away. Thankfully we’ll have access to games like Killzone 3, Bulletstorm, Crysis 2, Brink, Deus Ex, and soooo many others before CoD can grease the money machine up again.