Turbine, a game publisher that makes massively-multiplayer online games but may soon be enacting a major strategic shift, is in the process of taking $40 million in new funding led by Granite Global Ventures, according to Dan Primack.

While its Lords of the Ring Online: Shadows of Angmar computer game franchise has found success, expectations are that the company will move toward the console market. Primack also speculates that it could be preparing to take a stab at console gaming.

Turbine also hired a new chief executive last year, which freed former CEO Jeffrey Anderson to recently found Play Hard Sports, which will make casual sports games, reports Massachussets High Tech. A $5 million funding was provided to Play Hard by New Enterprise Associates. VentureBeat wrote about Play hard Sports here.

Returning to Turbine, only $25 million of the $40 million total has been raised so far. Backers joining Granite so far include Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital.