Some new information is coming out on a future Fantasy TBS 4X game called Warlock – Master of the Arcane. The game is set in the same world as the Majesty series. There isn't lots of information out, but we do have some WIP screens and concept art. The weird thing to me is that they are saying Q2 2012, but there doesn't even seem to be a site for the game yet, just a tiny forum at Paradox.
Anyways, I really like the Majesty games, although they have never lived up to their billing of 'Fantasy Kingdom Simulator' and are really more 'Hero Influencing Simulators.' I really wish that those games would expand the 'Kingdom Simulator' bit to provide a wider range and depth of gameplay. The idea of a 'Fantasy Kingdom Simulator' has always been one of the things I have wanted Elemental to be.
1C has a strong list of games including Majesty, King's Bounty, Men of War, and others. Not sure about the exact studio doing this game.
I'll be interested to see how this develops. The more the merrier, I say!
The below link is for one of several small articles out there, and includes a gallery of screen shots.