There are some new rumors circulating about why Microsoft chose to close Lionhead Studios last month.

The latest rumors suggest that although other companies wanted to buy Lionhead and take it off Microsoft's hands, the latter did not want to give up licensing rights for the Fable franchise.

Kotaku UK reports that multiple sources have confirmed this story, stating that Lionhead actually had several potential buyers wanting to purchase the studio and keep it open, which is pretty normal for a studio under threat of closure. These buyers were reportedly big names in the video game publishing industry, too, and some had even filed letters of intent, meaning that one of them could have saved Lionhead.

But that didn't happen, because Microsoft shut Lionhead's doors forever. But why?

Sources state that Microsoft did not want to give up Fable, or that franchise's profits. And that was a deal-breaker for Lionhead's potential buyers because that would mean that those potential companies could not publish any new Fable games without sharing profits with Microsoft.

"Ninety percent of the people interested just walked away at that point," said the source to Kotaku UK.

Previously, Lionhead Studios was working on Fable Legends, an online multiplayer role-playing game set in the world of the Fable franchise. Microsoft decided to cancel the title, though, even after a beta version went live. That's a good indication that Fable fans will probably never see another game made in that world, and as of last month, they said goodbye to Albion forever.

"The Lionhead Studios team has delighted millions of fans with the Fable series over the past decade." wrote Microsoft on the Xbox blog. "These changes are taking effect as Microsoft Studios continues to focus its investment and development on the games and franchises that fans find most exciting and want to play."

Although rumors persisted that some members of the Lionhead Studios team would continue working on Fable Legends, that never happened. Fable, now, is only a memory.

Lionhead Studios also gave the world the Black and White franchise of games, but Fable, and its sequels and spin-offs, remains the most beloved IP of the now-defunct developer.