Interesting, from the company currently doing what is essentially a Master of Magic remake:
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"I actually pitched Atari on a whole idea for a true successor to Star Control," CEO Brad Wardell tells Gamasutra, noting that the game would follow original series developer Toys for Bob's Star Control II rather than the Legend Entertainment-developed Star Control 3 ("We just pretend that never happened," the CEO says of that release).
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Full article:
http://www.gamasutra.com/php-bin/news_index.php?story=20998