In 2010, Halo developer Bungie signed a deal with Activision--an exclusive 10-year partnership "to bring Bungie's next big action game universe to market." Little has surfaced about the new project since.
As a consequence of Activision's ongoing litigation with former Modern Warfare developers at Infinity Ward, details of the publisher's agreement with Bungie have surfaced. While specifics could have changed since the contract was signed in 2010, the original contract lays out a plan for four sci-fi "action shooter" games from Bungie, codenamed "Destiny," released every other year, beginning in late 2013.
The LA Times got their hands on the full 27-page document. According to the original contract, the first "Destiny" game would be exclusive to Xbox consoles, the 360 and its successor. "Later games" would then be multiplatform as per the original announcement, coming to the next Xbox and PlayStation consoles, as well as PC.
In addition to these four games, Bungie's agreement with Activision also covers four downloadable expansion packs, codenamed "Comet." These will also release every other year, beginning 2014. If Bungie is still adhering to their original agreement with Activision, that means we will be seeing content coming out of the studio on an annual basis starting next year--until the year 2020, only a few years before drones screw everything up.