The Elder Scrolls 5 is rumored to be a direct sequel to Oblivion.
Eurogamer Denmark reports that Bethesda Game Studios is currently working on The Elder Scrolls 5. However unlike Bethesda's previous four installments, the new addition is supposedly a direct sequel to the latest chapter, The Elder Scrolls 4: Oblivion, which was released back in 2006 for the PC, Xbox 360 and PlayStation 3.
"This source not only confirmed that the game is in current production, but also spoke briefly about the content--with fantasy-sounding phrases like Dragon Lord, something with The Blades--and that voice acting for the characters in the game is currently happening in the weeks to follow," said Eurogamer Denmark Editor-in-chief Kristian West who translated his story for Eurogamer.
"The same source confirmed, with official game documents in hand, that this will be the chronological sequel to what happened in The Elder Scrolls 4: Oblivion, which is the latest game in the now 16-years-old Elder Scrolls saga and by itself one of the better RPGs for PC and consoles," West added.
Bethesda Game Studios admitted back in August that its 90 or more staff members had been working on an Elder Scrolls title over the past two years. It was believed that Bethesda would follow the same pattern by releasing stand-alone chapters, however now it seems that the studio has decided to break the tradition.
During QuakeCon 2010 this summer executive producer Todd Howard said that the studio's current title would be announced soon, but didn't actually pinpoint a specific timeframe. "One thing I can say is that from when you first hear about it to when it's out will be the shortest it's been for us," he admitted. "It's pretty far along. When we show it, we want to show a lot, because there's a lot of game there to play right now."
Howard indicated that the new title will look and perform incredibly well on the Xbox 360 and PlayStation 3. "You almost feel like you have a new console when you see the game," he said.