Elder Scrolls V is not on Bethesda’s radar. During a Q&A session at Quake Con ’09, Bethesda's Todd Howard told a fan that the studio has “no current plans” for the expected sequel to Elder Scrolls IV: Oblivion.
He didn’t add to the statement, but when a clever fan asked about
if Bethesda was planning an Elder Scrolls MMO Howard said [jokingly], “There’s always a chance.”
We’ll go out on a limb here and say that the chances of the oft-rumored MMO being real seem pretty good now considering the studio isn’t bothering with a traditional follow-up. Still, this is a gut-puncher. We were looking forward to rolling in another single-player Elder Scrolls title.
[Update: This is bad information. Read this for clarification.]