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Microsoft's reportedly ready to revive the Fable franchise

You might soon be able to return to the land of Albion in the rumored Fable 4.

Fable III, the last entry in the series, was released in 2010.

Fable might not be dead after all. Even though Microsoft shut down Lionhead, the studio that created the popular video game franchise, rumors have emerged that a new entry in the franchise is in the works.

Microsoft even cancelled the multi-player focused Fable Legends, but Eurogamer is reporting that another studio has now been tasked with returning the series to its single-player roots and creating an entirely new, big budget entry in the Fable series. The supposed Fable 4 will be an open world role playing game similar to the first three entries in the series.

UK developer Playground has been tasked with the game. Playground is best known for recent entries in the Forza racing series. Microsoft's renewed interest in Fable is supposedly due to rival Sony's success with Horizon Zero Dawn -- the hit open-world, single-player role playing game that was exclusive to Sony's Playstation 4 console.

Playground is supposedly just now ramping up production of Fable 4, so if the rumors are true, we'll have a long wait before we see if Microsoft can recapture the magic of the franchise with a new studio.

Microsoft did not immediately respond to CNET's request for comment.