It's been over a year since God of War 3 hit stores and the lack of gossip about God of War 4 is distressing. Some anonymous source needs to start flapping their gums about a release date. C'mon already, we need traff - oh, there they go.
The latest issue of PSM3 (via CVG confirms God of War 4 is in development. It's scheduled for a September 2012 release. That'd be the first console GoW not to be released in March. Makes sense; at this point, the franchise is big enough that they don't need to shy away from heavy holiday season competition.
Sony's said nothing about GoW4 yet. The first three games were a trilogy so a fourth installment would essentially begin a new story arc. There are a lot of different ways they could go.
PSM3's source, who "works closely with the God of War universe," will contributing to a separate but related project. Maybe they're making a GoW for the Sony Next Generation Portable as well? The NGP is going to debut at the end of 2011 and a new GoW would make a nice addition to the handheld's library.
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