Fable Legends Announced for Xbox One

Pretty much no further news beyond the title as of now, given the Microsoft conference for Xbox One at Gamescom isn't being streamed, but those publications that have to chance to be there, like EDGE, are reporting that Microsoft has announced Fable Legends, an online Xbox One exclusive title.
Fable Legends is Lionhead's new online game for Xbox One.

As soon as we have more info we'll bring them to you.

UPDATE: The press release/fact sheet is in:
Product overview:
(Fable Legends) unites the classic gameplay that players have come to love from the series with all of the next-generation capabilities of Xbox One. For the first time, grab your friends and go on adventures - up to four Heroes can cooperatively discover the quests and stories of Albion. Or, play the villain where you can mastermind the game in real time. (Fable Legends) takes advantage of the graphical processing power of Xbox One, and when coupled with Unreal Engine 4, delivers a rich and beautiful world.

Features:

Rediscover The Magic of Fable
Return to Albion, a picturesque land full of thrilling stories, exciting combat, and high adventure. It's no surprise that millions of players have visited and adored the welcoming countryside of this once upon a time storyland. (Fable Legends) brings you to a place where history, myth, and folklore are practically the same thing. Of course you'll also find monsters, villains, and even the occasional disaster, but you shouldn't take it too seriously. Albion is a unique fantasy land where epic, tragic, and comedic stories all combine for a one of a kind experience.

New Ways to Play the Hero
In (Fable Legends), you're never completely alone. You can play the game single player, with a party of three heroic AI companions that follow your lead through stories and adventures. Or you can play cooperatively with up to three friends and discover the game's quests and content together. Play whatever style you want, when you want. After all, you're the Hero. And just what kind of Hero you choose to play is up to you. (Fable Legends) takes you back to a time when Albion is teeming with Heroes, so there's bound to be one for you. Fearless warriors. Cunning tricksters. Masters of Will. Paragons of virtue. Heartless mercenaries. Intoxicated brawlers. Chicken chasers. They're all here, and many more besides. You'll be able to customize your abilities, alter your appearance, and advance your Hero by earning experience and finding new armour, weapons, and treasures.

Or Is Evil Your Thing?
Fable has always presented opportunities for mischief and villainy, and in (Fable Legends) we're going to offer a way to play the bad guy as never before. The Villain player takes control of the many creatures, minions, traps, and environmental hazards that Heroes must overcome. Villain play combines elements of strategic decision making and tactical control. When those pitiful Heroes enter an area, you'll choose which minions are sent into battle and where to place these creatures to maximize their effectiveness. Once the fight begins, you issue the orders for your creatures to execute: telling them where to go, which Hero to attack, and what abilities to use to ensure your evil plans come to fruition.

Expand Your Controls through SmartGlass
As a Hero, you can use SmartGlass on your tablet or smartphone to track your game progress, get more information on Heroes, quests, and other content. As a Villain, you'll be able to use a SmartGlass-enabled device to play as the Villain when you're in the same room with your Xbox One. In this way, you can play right next to a Hero player in couch co-op.*

* Xbox SmartGlass features require a compatible device and broadband internet; ISP fees apply. See http://www.xbox.com/smartglass.

About Lionhead Studios
Acquired by Microsoft Studios in 2006, the U.K.-based Lionhead Studios is known for developing original and innovative games such as the extremely successful (Black & White) for Windows in 2001, (Fable) for Xbox in 2004, (Fable: The Lost Chapters) for Windows in 2005, (Black & White 2) and (The Movies) in 2005, (Fable II) in 2008, (Fable III) in 2010, and (Fable Heroes) and (Fable: The Journey) in 2012 for Xbox 360.