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Lionhead Studios have been closed, and Microsoft remains the copyright holder of the Fable license. There is currently one known studio working on a Fable game with Microsoft's authorization: Flaming Fowl Studios, set up by three former Lionhead veterans, are working on a Fable CCG called Fable Fortune. However, Flaming Fowl do not have the license to work on any other Fable titles.
Lionhead Studios said there were no plans for a Fable IV, but there were rumours that they would begin working on it after Fable Legends was released, or if Fable Legends was cancelled.
There is a game called Fable: The Journey which is a first-person shooter; however this is not Fable IV, as it does not revolve around the Bloodline. There is the remake of the original Fable called Fable Anniversary and is available on Xbox 360 and for Microsoft Windows. Fable Legends, an online action/strategy game set in Albion's past, was planned for release on Windows 10 and Xbox One, however was cancelled before Lionhead could finish and release it. This was not Fable IV either.
Before he left Lionhead, Peter Molyneux, the former creative director for the series, expressed interest in creating a fourth game. He stated "Forget about the word 'trilogy.' I'm not going to tell you what happens at the end of Fable 3 but I don't think you'll feel in any way that you've reached the end of a trilogy."