On Wednesday we posted an article which carried a (at that time) rumor that Microsoft and Bungie may be parting company. Today that rumor is confirmed. The official press release came out and it was indicated that the separation between Microsoft and Bungie had been in place for some time, though it was not released earlier to avoid affecting Microsoft's Q3 financials. Rights to gaming intellectual property, trademarks, etc., like Halo 3, owned by Microsoft will be retained as will their current business location in Washington. However, Bungie will no longer be under the Microsoft's control or direction.
You can read more about it in our main coverage here.