The close of Microsoft's Ensemble Studios game studio caused a (small) outrage but FUD Zilla reports fans of Age of Empires do not need to fear as Microsoft will definitely continue this family of real-time strategy games:
The announcement that Microsoft plans to close Ensemble Studios after the development of Halo Wars is complete has been received by many as very sad indeed. It seems that those that are complaining the loudest are those that are die hard Age of Empires players who have been waiting for another addition of the very popular PC title.
Microsoft let it be known that they continue to own the AoE IP and that possible future announcements regarding the family of titles is likely. While they are not announcing anything at this time, Microsoft is still behind the title and does plan a future for the product franchise.