PC Gamer reports that the Master of Magic IP has been aquired by the strategy publisher Slitherine:

Master of Magic acquired by strategy publisher Slitherine

Rescued from Atari's IP dungeon.

After 25 years, Master of Magic has finally been summoned again. After a stint languishing at Atari, the rights to the formative fantasy 4X game have been acquired by Slitherine, the publisher also responsible for bringing back the similarly ancient Fantasy General.

Despite having a rocky start, Master of Magic carved out a comfortable spot for itself in the history of the strategy genre, inspiring plenty of 4X games and consistently appearing on nostalgic 'best of' lists. While it doesn't feature on our own best strategy games on PC list, its influence is still there in games like Endless Legend.

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Thanks heriquejr!