So apparently Microsoft is teaming up with Lionhead Studios to make another Fable game on the Xbox1.

http://www.youtube.com/watch?v=zMbfWiz58zw

http://www.joystiq.com/2013/08/21/fable-legends-xbox-one-gamescom-preview/

It seems you get stuck with picking a pre made character with a static archtype, meaning you pick 1 of 4, an archer type, a trickster dualist type, a mage type, or a warrior type. All of whom are pre made and you cant change them. Also the other 3 archtypes accompany you through out the game as either AI or player controlled it seems.

EDIT:

Reading further into the article it seems there is a 5th character, the villain. The villain is also either AI or player and sits atop the battlefield and controlls the enimies being spawned and traps for the heroes, sort of like a dungeon master in D&D.

So, they turned the solo experience into one long escort quest?

The tabletop GM-style multiplayer sounds like it could be really interesting. Of course, so has everything else Fable has promised over the years.