Microsoft Studios head Phil Spencer has revealed that its Gears of War franchise still has plenty of life left in it.

Microsoft released the last and fourth Gears of War title in March 2013 - the Gears of War: Judgment. So, if you were awaiting the release of the next title then you may have to wait a tad longer; however, on the bright side the franchise is unlikely to be discontinued.

Per Spencer, currently discussions pertaining to the future of Gears of War are ongoing. Moreover, in an interview with Kotaku, he revealed that a new title is not on the cards at the moment.

"I'm a huge fan of the franchise. I want to continue to work with Gears. I think there's a lot of life left in that franchise. We had an internal discussion on it even yesterday. It's something that's active in discussion about what we can do with Gears," said Spencer." Obviously, I know [Epic's management] Tim Sweeney, Mark Rein, Jay Wilbur incredibly well, so nothing to announce yet and I'd say, yes, there's nothing even pending that I'm holding to announce, but I understand the importance of the franchise to the Xbox platform and to gamers-I'd say gamers first. It'd be great to do something forward with that franchise."

Spencer also went on to explain the importance of the franchise from a gamer's perspective.

"I understand the importance of the franchise to the Xbox platform and to gamers--I'd say gamers first. It'd be great to do something forward with that franchise," Spencer noted.

The Gears of War franchise has been exclusive to Xbox and PC since the beginning and Spencer did not disclose if this would change in the near future. He chose to throw the ball in creator Epic Games' court instead.

"It's Epic's franchise. You and I both know that. I can't make any assurances about anybody else's franchise. It's Epic's game and we have to talk to them about a partnership and what they want to do. As you know, you probably know right now they're more focused on other areas of their business right now," said Spencer.

Spencer has also let on that Microsoft is possibly interested in reviving older franchises like Phantom Dust. However, only discussions are ongoing as of now and there is no confirmation despite the high interest levels surrounding the franchise.