Lionhead Studios has officially close down operations on 29th April 2016. While earlier news hinted that a closure is being discussed, it seems the discussions have ended with Lionhead closing shop. No buyers are interested in scooping them up it seems.
Lionhead is close to 20 years of operating, founded by then-brilliant game designer Peter Molyneux. Having built a pedigree to his name with his previous studio Bullfrog, Lionhead went on to release the Action RPG series Fable, a management game called the Movies, and various spin-offs of the Fable series, including a game that works with the Kinect. The team was working on Fable Legends, a cross-platform game that features asymmetric multiplayer. That project was also canned despite a long closed beta test was undergoing, with refunds of purchased items have now being issued to players.
It is always an unfortunate news to hear, and coming from a well-established studio, it’s sad to see how things have to go. We wish the best of luck to all the people affected by the closure, hopefully this will lead to better opportunities in the future.