In an interview with Pro-G , Vice President of Public Relations and Marketing at Bethesda, Pete Hines said that it's gonna be a while till we see the next Elder Scrolls installment. Hines also mentioned that they might make it an MMO based in the same universe, provided they come up with a fresh idea to base the project on. Here are his words:
"Well, I can tell you that since Oblivion has been such a smashing success that I'm sure we will do it [Elder Scrolls V], but there are no immediate plans right now.
We're finishing up Oblivion then shifting our focus to Fallout 3, which is our next big role-playing game.
I don't think we could do an MMO unless it was with some fresh idea that no one has ever tried before".
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