https://www.pcgamer.com/torchlight-frontiers-brings-a-shared-persistent-world-to-its-existing-universe/

When Torchlight and Hob developer Runic Games was shut down last year, the developer said: "For those that love the Torchlight series, there will be some news coming." Today, Perfect World Entertainment and Echtra Games have announced Torchlight Frontiers—a new shared world action RPG and the "next evolution" of the Torchlight series. 

Echtra Games is of course led by Runic Games co-founder Max Schaefer, and Frontiers takes place within the same universe as the series' previous games. Cue some cutesy, but determined, goblin hordes in this announcement trailer: