Originally slated for an early 2012 release, Fables has apparently been put on the back burner. Joystiq is reporting that Fables is now scheduled for a Q3 release, sometime after E3 and the San Diego Comic Convention.
After the poor reception and controversy surrounding Jurassic Park, Telltale is perhaps treading a more careful path. Both Fables and The Walking Dead, franchises Telltale is developing adventure games for, were announced for release in early 2012, but have since been delayed further into the year. Also missing in action is the first King's Quest sequel to be released in 10 years. For now we'll have to do with the first 5 (of 7) episodes in Law & Order: Legacies.
Fables, for those confused, is a DC Comics series about a collection of characters from folklore living in upstate New York. The series has won a number of awards for story and artistry. Look forward to more information soon.