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COD has now three years of development. Infinity Ward, Treyarch and Sledgehammer Games have each three years to make a new entry into the series.
Activision could speed up Rockstars slow process to a bi-annual release of GTA and RDR from two or more developers (Rockstar North leading the work). That would mean a four year development period for each game.
Activision knows online and would help GTA in that department. COD and GTA probably has the same audience so Activision should know how to properly market GTA, making it profitable.
With Activision resources games like Bully, Manhunt, Midnight Club and Max Payne could see new life.