Rumors suggest that is what is happening
The developers at Raven have been quiet as to what they have been working on. The Activision-owned developer has been working on a number of projects associated with other titles, including working on maps for Call of Duty.
Sources are saying that the developer is working on a new first person shooter title. This seems to be backed up by the company’s web site that says the studio is working on an “exciting next generation title.” While the company has been doing some hiring, the job descriptions seem to do little to reveal exactly what the studio might be working on.
While some of sources have suggested that it might be a new Soldier of Fortune title or maybe even a sequel to the Raven-developed Singularity, so far publisher Activision has had nothing to say about what the studio might be working on. Whispers we hear say that it could be E3 next year before we have any clear indication what Raven is working on specifically.