Unconfirmed: Ubisoft Working on New HoMM
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A listing for a job opening at the studio says that they're developing "Heroes of MM", which is described as "a brand new fantasy RPG title for the PS3, Xbox 360, PC, and Mac".Confusing, because Heroes of M&M is the name of the TBS franchise.
So, yeah. No subtlety there, no smoke and mirrors, no code names. Looks like a case of a straight-up "hey, wanna work on a brand new Heroes of Might & Magic game?"