Microsoft has canceled Fable Legends, the 4v1 multiplayer title that has been in development since 2012. Not only that, but Lionhead Studios, the studio behind this game and the whole Fable franchise, will be shutting down as well.

In an official statement, Microsoft it is “in discussions with employees about the proposed closure of Lionhead Studios in the UK.” We also learn that Press Play Studios, developer of Max: The Curse of Brotherhood and the yet unreleased Project Knoxville, is also being disbanded.

“These have been tough decisions and we have not made them lightly, nor are they a reflection on these development teams – we are incredibly fortunate to have the talent, creativity and commitment of the people at these studios,” Microsoft stated.

No reason was given for the cancellation of Fable Legends. The game was originally supposed to be released on the Xbox One and PC and to feature cross-play between the two platforms. We never got a solid release date for either the game itself or it’s open beta. Both suffered numerous delays, but were slated for a final 2016 release.

In slightly happier news, the Fable Legends closed beta will remain open until 10 am EST on April 13, but no new players will be accepted. Also, in-game microtransactions have been disabled, and Microsoft will be issuing full refunds to anyone who spent money on the game.

We wish the best of luck to Lionhead and Press Play employees.

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