New development studio "Respawn Entertainment" consist of former Infinity Ward staff and Call of Duty creators
So a while back, Infinity Ward and a lot of the staff who worked on the Call of Duty franchise had a bit of tension going on (and when I mean "a bit" I mean "a large amount") due to contracts between them and Activision. In result, Jason West and Vince Zampella (who co-created the Call of Duty franchise) and nearly half of Infinity Ward's staff left the company to venture out on their own.
Around April 2010, fresh out of Infinity Ward, both West and Zampella told the LA Times they were to make their own company and obtain all their intellectual property of the content they produced so far. As of today, they and most of the staff that left Infinity Ward with them came together to make Respawn Entertainment.
They went on to inform that the company had begun working on its first project. There was no news on what the project was until just recently when they launched their website on June 29th. The site displayed to the general public a teaser image of what they were working on.
While a larger version of the image can be seen here, I tried to decipher what is going on in this picture. A part of this Ambassador's brain wants to think that thing in the middle looks like a brontosaurus or some long necked dinosaur. When I thought of that scenario, I had to remember that all of the staff at Respawn worked on the Call of Duty series. So it's not likely it's going to be a FPS game depicted in the Mesozoic ages (though if it was, that'd be awesome), it has to be something dealing with what the staff at Respawn are familiar with.
Only time will tell what this company can do.