Regardless of the Infinity Ward drama surrounding the Call of Duty series and Activision signing a 10-year publishing deal with the developer of another significant shooter series, Call of Duty will move forward with more titles than you could ever ask for. Today the title for Call of Duty 7, developed by Treyarch (who developed Call of Duty: World at War), was announced as Call of Duty: Black Ops. There is at least one other CoD title, rumored to be a third person shooter, currently in development at Sledgehammer Games. You can also bet that Bobby Kotick is hard at work trying to salvage what he can out of Infinity Ward to assure that the proper CoD titles remain on schedule as yearly releases.
There is on small addition that you may see coming to the series sooner rather than later. Activision is planning on releasing details of their online business model for the series in the next few months. How this will work exactly is a matter of conjecture, but it is coming.
It really is the next step for online games that have a proven and dedicated audience, but how dedicated will they be for a monthly fee or when hit with micro-transactions left and right? This was inevitable and has a lot of up sides if Activision can be nice and learn how to properly support a game from their World of Warcraft team. However, with multiple yearly releases, map packs, and a questionable track record with their other saturated franchises, Guitar Hero and Tony Hawk, it remains to be seen if the series has peaked before it can set the standard for the new era of subscription based multiplayer shooters.