the author of this article is speculating that 1C might have the rights to Master of Magic and might be working on a sequel:
http://www.rockpapershotgun.com/2008...ers-of-giants/
very interesting idea! along with Majesty 2 & Kings Bounty (not to mention the Fantasy Wars/Fantasy General connection), they do seem to be good at resurrecting very good older TBS games. i certainly hope it turns out to be correct!