A new title in the "Fable" series is reportedly underway, as rumors of Microsoft approaching a new game studio for its development continue to spread.

According to Eurogamer, Microsoft has approached Playground Games, the UK-based studio responsible for the "Forza Horizon" racing series, to take over the development of a new "Fable" title. Microsoft has yet to comment, saying they do not entertain rumors and speculations.

According to IGN, Playground has been in development of an open world role-playing game since last year, which fits the description of "Fable" quite well. IGN reports that Microsoft's decision to bring back the "Fable" series was inspired by the huge success of "Horizon Zero Dawn," a similar game in the genre which had sold 3.5 million copies.

Multiple sources are now reporting on said rumors, with still no confirmation from Microsoft, Playground, nor the creators of "Fable." While this leaves many open-ended questions, Xbox executive Phil Spencer has expressed his support for the game's intellectual property, saying that "it has a lot of places it could go," suggesting that it is not yet the end for the series, and there could be more titles in the future.

In 2016, long-standing game developer of "Fable" titles, Lionhead Studios, closed down following complications and issues arising from the development of an open-world, co-operative game called "Fable Legends."The first of its kind in the series, "Fable Legends" was to be a free-to-play, multi-player game. The game was cancelled along with the closing of Lionhead, leaving fans disappointed.

"Fable" has been a household name in the action role-playing game genre for decades, with the first "Fable" game being lauded as one of the pioneers in open world role-playing games, where every decision could impact the story in some way, and the gameplay behind it being largely non-linear. The franchise had continued success with two more installments, namely, "Fable II" and "Fable III."