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Civ 4 is in the works, it is not being made by fraxis, The Sid Company has steped in and plan on makeing it.

So Far what has been said is they are keeping to the formula so there will be very few changes form the other games, the one change people will notice is that Era combat will be more real...Modern troops will distroy bronze age troops and such...

you can read the full article in "Computer Games" magazine March issue i beleive (cant find it atm, has a dark elf from World of warcraft on the cover