Because of the great success that Blizzard has received with World of Warcraft, it seems as if a lot of developers want to jump on the bandwagon in hopes to grab some cash in a hot commodity market called MMOs. The Massively Multiplayer Online game market has seen its share of rumors with the most recent being speculation that Bioware could be working on a KOTOR or Indiana Jones MMO. Now Bethesda, the creative minds behind The Elder Scrolls IV: Oblivion and the upcoming Fallout 3 could be entering the pool.
What brings this to surface is cause of recent moves by Bethesda that could bring about fact that the company is indeed behind a MMO. Fans of the internet have discovered that Bethesda has registered the domain of elderscrollsonline.com. Bethesda comments that the only reason that they registered that particular domain was because they didn’t want squatters to get there first, whatever that is supposed to mean.
When asked about it, Pete Hines, Bethesda’s VP of Public Relations had this to say, "We have a separate company, ZeniMax Online Studios, that's owned by our parent company, which has been set up to do MMOs but they aren't talking about what projects they're working on or what they're doing". He further went on to add, "It's [ZeniMax Online Studios] obviously a new shop, a new startup, and given that it's an MMO, I imagine it'll be quite a while before they start to talk about what they're doing."
So really there isn’t a confirmation, but yet they are not denying it either. The only thing to do is pretty much wait for an announcement of some sort. We can honestly say that an Elder Scrolls MMO would be a great game and Bethesda should pursue it.
What do you think? Discuss it in our forums.
Source: CVG

yay rumours
nice i hope oblivion goes online.
I think they will make this game online, gamers wanted it the first time around.
This will be a great addition. Hope SI add-on is coming also.
Man this would be great! I'd buy it in a sec
As long as Oblivion stays true to itself, with awesome storylines, quests, weapons, items, etc I won't have a problem with it. I just hope it doesn't turn into another WOW.
with all the FPS madness. we could use a good MMO....
psn id: it would be interesting and it might spice up the game enough for new poeple to get into that type of game i say that they should make an elder scrolls one because it is a tried and tested formula
it doesn't say or even imply that it would be coming to the ps3 or 360 anytime......ever! mmo are usually pc only. there have been a few for consoles but we all know those games are centered around the pc. even if it is made...it will be pc 1st and then ported to 360 and then ps3. probably would see this in 3 years.