Two of the biggest and most beloved franchises in gaming are on the verge of revealing major announcements today, if reports about Activision Blizzard’s earnings call this afternoon are true.

The world has been waiting many years for Diablo III, a game that’s been repeatedly delayed even though previous gameplay footage made it look almost complete, a testament to the polish and time Blizzard puts into their titles before release (see: StarCraft II). Call of Duty on the other hand launches a new game every year, usually announcing them prior to E3. Well, it’s that time, so prepare for Modern Warfare 3.

The rumors and speculation (and common sense) indicate that Infinity Ward, with the help of Sledgehammer Games and Raven Software, have been working on Modern Warfare 3 since Modern Warfare 2 debuted in 2009. Many rumors pointed towards an imminent announcement of the next Call of Duty game and Black Ops successor last month, but it never came and now a variety of outlets and sources are hinting that the big reveal is actually coming soon, with some saying Activision will announce something today during their earnings call, potentially related to Call of Duty Online.

The same goes for Diablo 3 with Blizzard CEO Mike Morhaime saying that he’s looking forward to sharing some beta details on his “next call.” Perhaps they’ll have something more to announce then just beta details, something bigger like what consoles the game will be playable on in addition to PC. The game is in its “home stretch” of development and it’s reportedly likely to appear on consoles at some point as well.

Let’s hope what we hear is true and we finally get some clarification of what’s in store for these two games and when we can expect to play them. Stay tuned and Game Rant will provide updates as they happen.

The Activision Blizzard First Quarter Calendar 2011 Results Conference Call takes place today at 1:30 PM PT. Listen in here.

Diablo 3 is officially announced for release on the PC and Mac, but without a release date. Call of Duty: Modern Warfare 3 and Call of Duty Online both remain unannounced.

Follow me on Twitter @rob_keyes.

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