From Activision:

Prepare for the next generation of Call of Duty. The franchise that has defined a generation of gaming is set to raise the bar once again with the all-new Call of Duty: Ghosts. Published by Activision Publishing, Inc., a wholly owned subsidiary of Activision Blizzard (Nasdaq: ATVI), and developed by Infinity Ward, the studio that created the original Call of Duty and the seminal Call of Duty: Modern Warfare series, Call of Duty: Ghosts ushers in the next generation of the franchise. The new title delivers a riveting all-new gameplay experience built on an entirely new story, setting and cast of characters, all powered by a new, next generation Call of Duty engine that redefines the series for the next generation.

Activision Announces the Next Generation of Call of Duty(R) with Call of Duty(R): Ghosts
Call of Duty: Ghosts will set a new Benchmark for the Next Generation
All-New World, Story, Characters and Experience, All Powered by New, Next Gen Call of Duty Engine from the Developer that started it all, Infinity Ward

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What is included?

At this time, Call of Duty: Ghosts has been confirmed to include a single player campaign, multiplayer, and a unknown co-op experience. No information regarding any of these modes has been confirmed.

SPOILER: Wikipedia may have leaked first mission of Ghosts campaign!

UPDATE: Wikipedia has removed the information. but it specifically mentioned that the U.S was in a civil war, and it no longer promoted "good guys" vs. "bad guys", but instead a good vs. good scenario.

To see an exclusive first look at Call of Duty: Ghosts tune in to Xbox: the Next Generation Revealed on May 21 at 10AM PDT on Xbox.com, Xbox LIVE or SPIKE TV for the debut of the all-new game from Infinity Ward

Here is a look at Activisions next-gen engine:

When, where, what consoles?

• The game will launch worldwide on November 5, 2013.
  
• Ghosts has been confirmed to launch on the Xbox 360, Playstation 3, and the PC. Activision has said that the game will come to "next-gen" which could include but not limited to: The New Xbox (Durango, 720, Loop, Infinite, Fusion, or Xbox 8), PlayStation 4, Steam Box, Ouya, or the Wii U.
  
• You can preorder the game from: GameStop, Amazon, Best Buy, EB Games, GAME, Wal-Mart, Target, K-Mart and many other stores across the world.

Box Art:
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Reception:

Don Mattrick: We are consistently thrilled with the overwhelming response received from critics and consumers alike to the Call of Duty series, which has firmly established its home on the Xbox 360 with the games largest and most engaged community, said Don Mattrick, president of the interactive entertainment business at Microsoft. With Call of Duty: Ghosts, we have no doubt that our longtime partners, Activision and Infinity Ward, will raise the bar higher than ever before for this incredible franchise.

Eric Hirshberg: Infinity Ward set the gold standard for first-person action for a generation, and theyre going to do it again with Call of Duty: Ghosts, said Eric Hirshberg, CEO of Activision Publishing, Inc. Ghosts delivers an all-new story, all-new characters, an all-new Call of Duty world, all powered by a next generation Call of Duty engine, which is a leap forward for the franchise. Infinity Ward is going all-in to create the next generation of Call of Duty worthy of the worlds greatest fans.

Mark Rubin: Everyone was expecting us to make Modern Warfare 4, which would have been the safe thing to do. But were not resting on our laurels, said Mark Rubin, executive producer of developer Infinity Ward. We saw the console transition as the perfect opportunity to start a new chapter for Call of Duty. So were building a new sub-brand, a new engine, and a lot of new ideas and experiences for our players. We cant wait to share them with our community.

Tony Bartel: Theres no other video game property like Call of Duty. Its the biggest game franchise on the planet that has had some of the biggest game entertainment launches in history, said Tony Bartel, president of GameStop. We are very excited for the launch of Call of Duty: Ghosts, as we transition to next generation consoles.

Rumor Mill:

-Ghosts will feature new mechanics such as shooting while sliding, rolling from cover, and peaking around corners.
-Multiplayer will have dynamic loading screens that will keep players interested in the game before it starts.
-Destructible environments is the teams overall goal. SP seems to be going right for it, however, multiplayer not so much.
-Ghosts will NOT feature the character from MW2.