It looks like Lionhead is working on something that’s not already in the public eye. A former employee - one Franck Laurin - has listed on his Linkedin profile that whilst at Lionhead Studios he worked as a Senior Animator on Fable Legends and “Un-announced project”. Cue mysterious music.
In this day and age, we half have to expect that secret projects are in some way linked to existing IP, especially considering Lionhead is a AAA studio throwing skip-fulls of cash at their developments. The likelihood is another Fable game since that is all Lionhead has produced since 2008, but previous IPs include the wonderful Black & White and the flawed but charming film studio sim The Movies. I’d be super happy to see either of those two franchises return, but lets face it, we’re back off to Albion. If it ever comes to PC. And if it actually is a Fable game. MYSTERIOUS!