Earlier this year, Atari had reapplied for the Master of Magic trademark, after the name went to a mobile developer some years ago. Now, Master of Magic was acquired by the strategy publisher Slitherine. Here're news articles from PC Gamer and Rock Paper Shotgun. This means a very high chance that we will see a Master of Magic 2. This doesn't say anything about the quality of the game though. Slitherine has a very high output rate (about 20 games + expansions every year) and the fantasy genre plays a minor role for them. Slitherine currently makes a sequel to the simpler/plainer old strategy game Fantasy General.
A suggestion for unit stats, if a developer reads this. Units have the following stats: moves, resistance, defense, armor, hit points and for each attack type: attack, min damage, max damage. The difference between attack and defense tells the likelihood that an attack hits its target. And if it hits, the target suffers damage somewhere between (min damage - armor) and (max damage - armor). For example, fast flying units like Sky Drakes could have low armor but high defense which means they are hard to hit but take a lot of damage if it. And tanks like Behemoth could have low defense but high armor which means they are hard to hit but almost take no damage if hit by weaker units. Pikemen could have Armor Piercing ability which halves the effectiveness of armor, thus Pikemen would be good at taking down Behemoth but not Sky Drakes (with their Breath attack). The described system works similar to Age of Wonders II but I added armor and min damage as additional stats.