Turbine communications director Adam Mersky told Kotaku that the company is "actively developing a title for console."
Mersky did not specify further what the title would be, or whether it would make use of licensed properties like previous Turbine efforts Dungeons and Dragons Online (PC) or Lord of the Rings Online: Shadows of Angmar (PC).
The company, which recently received a $40 million equity financing investment from Time Warner, intends to utilize part of the funds to fuel the new project. Mersky noted that the company has already seen considerable expansion.
"We've hired over 60 people since the beginning of the year," he said. "The people that invested in us, Time Warner... one of the media giants, getting into the MMO fold, and that's obviously a big deal."
Turbine's aim at console development follows the announcement of restructuring at Sony Online Entertainment, which reorganized in effort to bring more of the studio's efforts to Sony's PlayStation 3. Other released and upcoming MMOs, such as Funcom's Age of Conan (PC, X360) and Cryptic Studios' Champions Online (PC, X360), will be pulling double duty on both PCs and consoles.