Lionhead has announced Fable Legends for Xbox One.
The game was announced by director David Eckelberry, and is set during Albion's age of heroes, 400 years before the events of the first Fable. Apparently it casts you as one of a number of different heroes offers four-player co-op.
Fable Legends is playable online, making use of the Xbox One cloud. There was no release date, but it doesn't seem like it's a launch title.
Check out the trailer below: