As you have no doubt read on the web today, Microsoft Corp. and Bungie Studios, have reached an unprecedented and exciting agreement - starting immediately, Bungie will become an independent company and will retain a long-term publishing agreement with Microsoft Game Studios for Halo titles. The new structure became effective on Oct. 1, 2007. The official blurb follows, but since you're a valuable part of our community, we thought we'd sum it up simply and concisely.

Bungie has long been built on creativity, originality and the freedom to pursue ideas. Microsoft agreed, and rather than stifle our imagination, they decided it was in both our best interests to unleash it. We'll continue to make Xbox 360 games, and we'll continue to make amazing games for MGS. In that regard, nothing has changed. All that has changed is that now Bungie Studios is once again, the property of the folks of Bungie Studios. Microsoft is and will continue to be, a brilliant, inventive and creatively collaborative publishing partner. Practically speaking, nothing has changed and you guys won't see much, if any difference, for a while unless you come to work for us, that is - we're hiring at http://www.bungie.net/inside/jobs.aspx