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Lionhead will be busy with Fable Legends for the next ten years!
Twitter from September 2015.

"Lionhead Studios is not currently working on Fable 4, the UK developer said today on Twitter. As you'd expect, the developer is instead focusing on upcoming Xbox One and PC game Fable Legends, which the studio says will remain the company's priority for the foreseeable future. Lionhead plans to support the role-playing game with a "constant stream" of DLC for a period of up to 10 years if everything goes well."


http://www.gamespot.com/articles/we-are-not-working-on-fable-4-lionhead-says/1100-6430849/