According to reports, Bethsoft is readying an Elder Scrolls MMO game. This new game will be set a millennium before the events of The Elder Scrolls V: Skyrim, and hundreds of years before any of the current games.

Elder Scrolls Online will have three playable factions represented by one of three animals: a lion, a dragon, and a bird of prey. A May 2012 announcement is expected to be followed by some sort of presence at E3 and the game should be shown off at Quakecon 2012 in August.

Source: TomsGuide.com