Bungie, the studio that created the Halo franchise, will be partnering with Activision for an "exclusive, worldwide partnership" the developer revealed this morning. The partnership will last for the next ten years.
Kotaku AU Note: We'll have more info soon, but basically Bungie is still an independent studio. They have not - I repeat, not - been bought out. Activision is publishing Bungie's next game. And Bungie will own the rights to it. (Looks like Bungie got what Infinity Ward wanted.)