http://www.espncricinfo.com/ci-icc/content/story/646147.html
The Champions Trophy is now officially history with the ICC confirming a World Test Championship from 2017 onwards in line with its goal of having one pinnacle tournament for each of the three formats over a four-year period. This also means that the World Twenty20 will he held once every four years starting 2016 instead of the current two-year interval.
In another decision taken to "ensure an optimum balance between the three formats of the game", teams will now have to play a minimum of 16 Tests in each four-year cycle with the ICC board accepting the recommendation of its cricket committee. There have been a number of recent examples of Test series being postponed due to conflicting demands, either from one-day cricket or the proliferation of Twenty20 leagues. Countries might still be able to give preference to limited-overs cricket, though, with the requirement being set as low as 16 Tests.
England and India were announced as venues for the first two editions of the World Test Championship in June-July 2017 and February-March 2021 as also for the 2019 and 2023 World Cups respectively. India will also host the 2016 World Twenty20 with the 2020 one going to Australia.