The Fable franchise's executive producer, technical director and art director have all left Lionhead Studios to help found a startup.
Jeremie Texier, Guillaume Portes and John McCormack have recently joined Dene and Simon Carter, the creators of Fable and whose Big Blue Box studio developed the original game (which, for my money, remains the best in the series), in creating Another Place Productions.
The mission statement for the new development house? To create, "high-quality, meaningful experiences that will inspire audiences worldwide."
While that creative vision is a little more conservative / less hyperbolic than those offered by former colleague Peter Molyneux, it has the benefit of being attainable.
As for Lionhead's next entry in the Fable series, Fable: The Journey is a Kinect-only first-person shooter that features a great deal of magic and has a 2012 release date attached.
Gamesindustry.biz: Lionhead veterans form new studio Another Place Productions