According to a report from the Los Angeles Times, the third installment of the Modern Warfare series is reported to come out in November. According to the LA Times, Sledgehammer games is getting recruited by Activision to put out another Call of Duty game, also Raven Software is going to be helping out too for the online multiplayer features. This gives the single player gaming to be developed by Sledgehammer and Infinity Ward both working together to complete the story mode.
However, the development is put on hold with the spin-off Call of Duty game because of the firing of executives from the offices of Infinity Ward. Along with 35 other employees, they do not know when they will be able to fill these spots at the company and they will need to do this quickly before beginning development of a new Call of Duty Game.
There are no guarantees if a Call of Duty: Modern Warfare 3 coming out in the later 2011, but there is one thing we do know is that we can look forward to something in the near future.