From Microsoft's announcement: "Our collaboration with Bungie has resulted in Halo becoming an enduring mainstream hit," said Shane Kim, corporate vice president of Microsoft Game Studios. "While we are supporting Bungie's desire to return to its independent roots, we will continue to invest in our Halo entertainment property with Bungie and other partners, such as Peter Jackson, on a new interactive series set in the Halo universe. We look forward to great success with Bungie as our long-term relationship continues to evolve through Halo-related titles and new IP created by Bungie."

Bungie will get to explore and develop other intellectual properties. After so many years of Halo, the gang is surely ready to explore new ventures. We look forward to what Bungie can bring to the 360 and possibly other consoles. By the way, Bungie is now hiring.

Read the official press release from Microsoft below. Read Bungie's announcement here.

UPDATE 10/6/07: To hear more from Bungie's Frank O'Connor, see the Game Informer interview here. Overall, O'Connor insists it won't mean much to gamers and that Halo 3 downloadable content is in the works.

Press release:

Microsoft and Bungie Studios to Evolve Relationship
Published October 5, 2007

REDMOND, Wash. — Microsoft Corp. today announced a plan for Bungie Studios, the developers of the Halo franchise, to embark on a path to become an independent company. Microsoft will retain an equity interest in Bungie at the same time, continuing its long standing publishing agreement between Microsoft Game Studios and Bungie for the Microsoft owned Halo intellectual property as well as other future properties developed by Bungie.

The critically acclaimed Xbox 360™ exclusive Halo® 3 achieved $300 million in global sales in its first week. Released on Tuesday, September 25, Halo 3 is the fastest-selling videogame ever and already one of the most successful entertainment properties in history.

"Our collaboration with Bungie has resulted in Halo becoming an enduring mainstream hit," said Shane Kim, corporate vice president of Microsoft Game Studios. "While we are supporting Bungie's desire to return to its independent roots, we will continue to invest in our Halo entertainment property with Bungie and other partners, such as Peter Jackson, on a new interactive series set in the Halo universe. We look forward to great success with Bungie as our long-term relationship continues to evolve through Halo-related titles and new IP created by Bungie."

"This exciting evolution of our relationship with Microsoft will enable us to expand both creatively and organizationally in our mission to create world-class games," said Harold Ryan, studio head for Bungie. "We will continue to develop with our primary focus on Microsoft's platforms, we greatly value our mutually prosperous relationship with our publisher, Microsoft Game Studios, and we look forward to continuing that affiliation through Halo and beyond."

Bungie Studios will remain in its current location in Kirkland, Washington.

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