Fable III Announced

Lionhead’s director, Peter Molyneux, announced at Gamescom 2009 that Fable III will be coming in late 2010.
The game will read you’re saved game data from Fable II and you’ll be able to play as the son or daughter of your Albion hero.
The goal and selling point for Fable III seems to be able to rule all of Albion. You don’t get to start as the ruler, but you can campaign in the game and eventually become ruler.
The game will also still offer action and adventure like the two other Fable games.