For the last year and a half we’ve been working on new content for Skyrim; from the game updates, Creation Kit, Steam Workshop, Kinect support, to DLCs. Parts of our team have also been in pre-production on our next major project, and that game is at the point where it requires the studio’s full attention to make it our biggest and best work yet.
Even though we’re moving on, we’ll still have minor updates to Skyrim as needed. We’ve invested so much of ourselves into Skyrim and will never truly say goodbye to it.
Although the blog post did not mention the new project by name, it is rumored to be Fallout 4.