Far Cry 4 has been confirmed. During Ubisoft's earnings call today, the French publisher/developer posted a slide revealing a November 18th release for PS4, Xbox One, PC, Xbox 360, and PS3 for the game which looks to take "a new step towards the revolution of the shooter genre."
Lead and associate developer studios include Ubisoft Montreal, Ubisoft Red Storm, Ubisoft Toronto, Ubisoft Shangai, and Ubisoft Kiev. So yea, this game is probably going to be massive which isn't really a surprise given how successful Far Cry 3 was.
Though no details were revealed, other than a goal of it being "among the top 10 best selling games of the year," Ubisoft did include an image of Far Cry 4's box art. Based on that image it appears that the rumors of the game being set in the Himalayas were true.
Though Far Cry 4 was included in today's earnings report, Ubisoft has yet to formally announced the game. Maybe at E3 next month?