Big news today. After what felt like a good few years worth of hype and circulating rumors, Fable Legends has been cancelled. Yep, after gameplay demos and previews, the one game that seemed to offer something new to the Fable IP has been completely shut down. To make things worse, the whole of Lionhead Studios has also been closed down, which means they'll be no more Fable games or Black and White games in the future, at least not from the Lionhead guys anyway.
It's assumed that Microsoft will take on ownership of the IPs from Lionhead Studios - this would make sense considering that they are basically under Microsoft's wings at this point anyway.
Below, a statement from Microsoft has been posted.
"Today, I have some difficult changes to announce that affect some of our Microsoft Studios teams and projects in the UK and Denmark. After much consideration we have decided to cease development on Fable Legends, and are in discussions with employees about the proposed closure of Lionhead Studios in the UK. Additionally, we will close Press Play Studios in Denmark, and sunset development on Project Knoxville."
"I speak for all of Xbox when I say that despite this news, we remain committed to the development communities in the UK and Europe, and Xbox will continue to support new IP and originality in the games we offer on our platforms, whether they're AAA blockbusters like Quantum Break from Remedy, adventurous new IPs like Sea of Thieves from Rare, or unique new creations from independent developers like Moon Studios with Ori."