Microsoft filed a trademark last week, on August 1, for "Galactic Reign." The filing mentions "video game software" and specifically "online video games."
Trademarks made with the United States Patent & Trademark Office (USPTO) does not serve as any indication of whether something will be used or not.
So far Microsoft hasn't commented on what the name could refer to, but feel free to speculate.
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[GameSpot]
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