Honestly I think New Vegas 2 may already be in the works now. Prob pre production?
Bethesda are full on production with Starfield, and InXile are focused on their new project.
Obsidian I think would have their main team on Avowed at this point too.
I just realised something, would it be possible to have separate studios co-produce another game? That would be insane, not just with the RPG teams but the others as well like ID and 343i … Wow
InXile writes it
Obsidian builds the game mechanics
Bethesda builds the world
Me likey 
I’m thinking a new studio will be created by MS to handle the franchise. The IP is too big for MS to wait for Obsidian or Bethesda
IMO you can even flip it and let Obsidian write it and InXile build the game mechanics. I feel like both of those studio do each of those two things at an elite level.
Add another team to BGS to make Fallout games (Fallout 5). Also if the outer worlds ream wants to take on New Vegas then that’s great I’d love a sequel there, but in no way would I want any impact on Avowed. That game has massive potential and it is the game I’m most excited for in their portfolio other than Elder Scrolls VI.
It’s kind of funny now that Bethesda is owned by Microsoft. Outer Worlds was seen as the Fallout replacement after the negative Fallout 76 reaction but now… they literally have the three post apocalyptic RPGs - Wasteland, Fallout, and Outer Worlds. I don’t think Fallout and Outer Worlds can exactly co-exist within the same group (maybe I’m wrong) so it’s possible Obsidian could just take over Fallout with the Outer Worlds team using the Creation Engine.
Honestly I can really see Bethesda massively expanding now that they have Microsoft money. According to Klobrille’s graphics they have over 500 now but i can see them expanding to manage three franchises with TES, Starfield and Fallout
There’s no way Obsidian is going to give up Outer Worlds, that’s their baby lol they’re going to invest heavily in it. If they really want to take on Fallout they’ll probably just expand and work on both after Avowed.
I can see Obsidian’s road map over the next decade
Yeah, I’d love to see Bethesda at 800+ and Obsidian and inXile around the 500 mark. That would give Bethesda 3 huge teams, Obsidian a huge team plus flexibility to work several more creative projects like Grounded and inXile 2 teams.
BGS single player team will have its hand full for the next 5 or 6 years with starfield and then elder scrolls 6. So to me the only way we get a single player fallout game before 2028 or so is if obsidian doesn’t do outer worlds 2. And that team instead does fallout.
I don’t see why Obsidian can’t just stick to Unreal. Creation is a tempermental beast that is mostly just used because Bethesda knows it like the back of their hand and so do their modders.
Practically 0 chance of Bethesda releasing a Fallout game for like a decade as Starfield and TES6 come first. If they don’t want Fallout 76 and Shelter to be the last of the franchise for a dozen years or so, they should make a New Vegas-like spin-off. Which sounds a lot more plausible now that both studios are under MS’ wings.
Xbox Ultimate Team.
Realistically there isn’t going to be a fallout game for at least 7 or more years, Bethedsa are busy with Starfield and elder scrolls 6, Obsidian will be busy with Outer worlds after avowed has shipped.
Why I absolutely think Obsidian will ship a spinoff because the current gap between traditional mainline Fallout games is too wide. We may not see a Fallout till like 2026 at this rate and thats being kinda generous.
Bethesda revealed that Fallout 4 was their biggest succes ever, even more than Skyrim. It made more money in 24 hours at launch than Black Ops 3 (in 24 hours) in 2015.
I would be surprised if MS sit on the IP for 7 or more years. I think they will find a way to develop a new Fallout.
If the acquisition had been in the works since 2018 Im sure some dialogue must have happened.
If they manage to cook out a Fallout spinoff it would be not only good for Microsoft Studios (and Obsidian who I would have make the game) but also for Bethesda as positive PR. Imagine closing out an E3 with a trailer that says Presented by Bethesda in Collaboration with Obsidian and BOOM a new Fallout.
Crazy
Yeh a spin off is possible, I’m just not sure as to who will want to make it. At the moment the studios that could make it have a very busy schedule.
Obsidian should have people I believe. Anyway nothing says it cant be a co-production.