Microsoft has announced Fable Legends at Gamescom. It will be developed by Lionhead Studios.
It is quite different from past games in the series. It is designed for four player co-op. There are a number of different classes who have different skills and a villain who is controlled by the player. It’s the villains job to control the game from a top down perspective placing enemies, traps and making sure that the heroes have a hard time getting through the game.