King's Quest Unofficial FAQ (Last Updated September 8, 2014)
Note that all information in this FAQ is compiled by community moderators Jennifer and Vainamoinen. We check our facts thoroughly and have a lot of Telltale experience on our backs, but this is not an 'official' source, we're just volunteers!
(1) Why is this forum here? Was Telltale Games going to make a King's Quest game?
Telltale announced they had acquired the license to make a King's Quest game in 2011. However, Telltale's game was cancelled in 2013. Since the game has been cancelled, the Telltale King's Quest forum is closed to new posts.
(2) Why was Telltale's King's Quest game cancelled?
The article that announced the cancellation stated that Activision reclaimed the license to make King's Quest games from Telltale before Telltale could release the game, since Activision had their own plans for the franchise.
(3) So Activision still intended to bring back King's Quest?
Yes. In 2014, Activision brought back their Sierra publishing label and announced that Sierra would be publishing a King's Quest game developed by The Odd Gentlemen. Since Telltale no longer has the rights to the King's Quest license, Telltale has nothing to do with this game.