Bungie and Microsoft today announced a plan for Bungie Studios, the developers of Microsoft’s “Halo” franchise, to become a privately held independent company, Bungie, LLC, in which Microsoft will hold a minority equity interest. As part of this transaction, “Bungie and Microsoft have forged a deep and long-term development and publishing relationship focused on the continued success of the ‘Halo’ franchise. It is also the intent of both parties to expand their partnership to include new IP created and owned by Bungie,” notes the announcement.