Turbine raises chunk of cash, working on new title?

In an interesting story from a company we haven't heard much about recently, Turbine (who you might remember from such MMOs as Asheron's Call, D&D Online, and Lord of the Rings Online) announced yesterday that they've raised $40 million in capital funding from Time Warner and the GGV Capital, amongst others. Says CEO and President Jim Crowley, "This is a truly exciting time for Turbine."

While it's hard to argue with the fact that more money is a good thing, what is less clear is what sort of pitch the company made that warranted this infusion of sweet green moolah. Their release mentions a "growing portfolio of games" and bringing new titles to market, but this is the first we've heard of potential new development from the Massachusetts-based developer. One can't help but wonder what's next for Turbine. Mayhaps a superhero game to compete with the next biggest independent developer on the other coast? Only time will tell.