Former Blizzard employees, including notables such as Rob Pardo and Josh Mosquiera, have formed a new development studio called Bonfire.
Pardo was the lead designer on World of Warcraft (amongst other things) and worked with Blizzard for 17 years. He and his small team want to "forge new legends" since their collective departure from the studio.
Pardo also says that "the bonfire is a metaphor for the experiences we wish to create. We want friends to connect through our games and share amazing experiences, tell the stories, and come closer together."
The two big partners shovelling money into the new endeavour are Riot Games (whose success is, incidentally, built on the back of League of Legends, their adaptation of the original Warcraft 3 mod, Dota) and large tech investor Andreessen Horowitz. A game hasn't been announced as yet, with team still being built up, but given those involved Bonfire is surely a studio worth keeping an eye on in the future.