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[UPDATE] Microsoft to cancel ‘Fable Legends,’ Lionhead Studios is shut down [VIDEO]

| Mar 09, 2016 02:37 AM EST

Microsoft is set to cancel 'Fable Legends' and shut down Lionhead Studios.

Game publisher and hardware maker, Microsoft, delivered unexpected bad news when it announced on Monday, March 7 that it is canceling "Fable Legends." The game was supposed to be the next installment in the fantasy series that has been an Xbox staple since its premiere in 2004.

The company as well revealed that it has proposed completely closing Fable developer Lionhead Studios. The move could mark the end of the greatest developers in the $99.3 billion universal game industry, according to Newzoo.

Lionhead's community manager was encouraging fans on the forum that the game was coming just earlier on March 7. Microsoft went ahead to announce that it is closing Press Play Studios, which is behind games "Max: The Curse of Brotherhood" and "Kalimba." The studio was currently working on "Project Knoxville," a multiplayer survival game.

Microsoft Studios Europe general manager Hanno Lemke said via the company's website that it has been a difficult decisions and the company has not made them lightly. He added that the decisions are not a reflection on the development teams, which he appreciated that it is incredibly talented, creative, dedicated.

Lemke added during the announcement, "The Lionhead Studios team has delighted millions of fans with the Fable series over the past decade. Press Play imbued the industry with a unique creative spirit behind games like Max: The Curse of Brotherhood and Kalimba, which both captured passionate fans."

Seemingly, the changes are being implemented as Microsoft Studios continues to focus its resources and development on the games and franchises that fans find most interesting and want to play.

"Fable Legends" seems behind in development since its announcement in 2013. The game was a multiplayer-focused take on the series. An open beta for the free-to-play game was set for a release this spring since the game was in a closed beta.

The developer studios said that it would reimburse gamers who spent money on the closed beta, which will not go offline until April 13. Watch the footage below for "Fable Legends."

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