No...FIDE conducts the World Chess Championship every two years.
The World Chess Championship has been undisputed since 2006; the
complications of unifying the previously fractured world
championship led to World Chess Championship events in 2007, 2008,
and 2010. Now that those complications have been resolved, the
World Chess Championship will be held every two years. The next
match will be in 2012...the challenger for the World Champion
(Viswanathan Anand) will be decided at the Candidates Tournament to
be held in May 2011. The winner of the 2012 World Championship will
defend his title in 2014.