Teased earlier this week, a new MechWarrior is currently being forged by Smith and Tinker (founded by FASA co-founder Jordan Weisman) and Piranha Games. IGN was informed that this is not being considered MechWarrior 5, but a reboot of the series. The title will release on PC and Xbox 360, and should include a full single-player campaign, "as well as support for four-player co-op campaign" and multiplayer.
There is currently no release window scheduled for the game, nor is there a publisher -- those two things are typically co-dependent. Check out the MechWarrior reveal trailer after the break.