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An article published by Tom's Guide claims that Bethesda is currently working on an Elder Scrolls MMO which is cited from an industry source not noted. Also, the MMO would take place a millennium before the events of Skyrim, and predictions say that the setting would be in the "Second Era" of the Elder Scrolls. Consequently, the MMO would take place way before the events of any game in the Elder Scrolls series.
Reports say that there will be three factions that are playable, which represent by an animal, a lion, a dragon, and a bird. An announcement would probably take place in May 2012, as E3 is approaching and confirmation that the game would be shown at Quakecon 2012 which takes place in August.
Bethesda is currently working with ZeniMax on the MMO as job postings were seen on ZeniMax's website on the project for a while now.
