About a month ago, we revealed that TellTale Games would announce five major titles on February 17th, 2011. One of these titles was rumored to be based on a popular graphic novel and recent television series. Unsurprisingly, we figured out it was The Walking Dead pretty quickly and today, TellTale Games confirmed that suspicion.

TTG Marketing Exec, Steve Allison speculates that The Walking Dead could be the developers first ever 1,000,000 seller and is potentially a $20-30 million dollar franchise. Surprisingly, Allison revealed that the average TTG title only moves 200,000 units or so, but that the company only needs to sell 100K to break even. That’s pretty incredible.

The small-time developer also announced that it will be creating an adaptation of Vertigo’s Fables comic book series. This series chronicles the adaptation of famous fairy tale characters into modern society. It sounds like an interesting plot development, but we’ll have to see how it turns out.