Considering the massive critical and commercial success of Skyrim, an Elder Scrolls MMO seems like a logical progression. However, I'm not sure how profitable it would actually be considering the large development costs and the stiff competition in the market. On the positive side, they would not have to develop everything from scrarch, the core storyline and game mechanics are already in place.
They could go with a Fallout MMOFPS instead to compete with Titan, but The Elder Scrolls seems like a more suitable candidate. Sadly, I think turning it into an MMO might ruin an amazing game and turn it into....no...the horror....WoW! and as they also say, if it's not broken, don't fix it. And clearly Skyrim isn't broken.
Thoughts?