Does anyone know if a new season of avatar is coming out?

I believe it's going to be a whole new series called "The Legend of Korra". It's a sequel series to Avatar. This is the trailer:

a new series, called The Legend of Korra will be coming otu in 2012. it's set 70 years later and is about the avatar after aang, a waterbending girl named korra. she fights crime and a group of eqaulists called anti-benders in a city known as republic city. i'm really looking foreward to it! link

There are also post-war comics that, according to Dark Horse, are being released in January.
link

It will air between March 31st and Fall of this year. So it will be out soon, don't tu worry. And that rumor wasn't true. The original release fecha was Novenber of 2011 until they decided to make más episodes. I hope this info clears things up a bit.