Microsoft has announced that Forza Horizon, an open world racer that "combines the legendary authenticity of Forza Motorsport with a festival atmosphere and freedom of the open road", will launch exclusively on Xbox 360 on October 23, 2012.

Forza Horizon is the first Forza title to be developed by Playground Games, a British development studio consisting of ex-Codemasters and Bizarre Creations staff.

More details to follow.