http://www.pcgamer.com/a-new-fable-game-is-reportedly-in-the-works-at-playground-games/

Last February, Playground Games revealed plans to "to test [itself] in a different genre". By November, the Forza Horizon dev confirmed it was working on an open world action RPG, having secured a new 200-person-sized office space. Now, reports suggest a new Fable game is being worked on with Playground at the helm.  

While as yet unconfirmed by Microsoft, Eurogamer reports the publisher has handed the reins to Playground, which, if true, comes less than two years after the closure of series masterminds Lionhead Studios.