Sources say that the game will be announced in May and will have massive E3 presence.
The 'Elder Scrolls' series has been impressive from the beginning, offering large worlds with seemingly infinite places to explore and countless quests and NPCs to interact with. For lack of a better term, they're a bit like offline MMOs – or if you prefer, MMOs are like online versions of Elder Scrolls games.
Either way, the line between the two is about to be broken completely. If rumors are to be believed, we'll be seeing an 'Elder Scrolls' MMO announced in May, with a huge E3 presence to follow it up. We've known for some time that ZeniMax and Bethesda were working on an online game, but this is the first indication that the followup to 'Skyrim' would be an online game.
Source: Tom's Guide