Microsoft announced today that their premier property Bungie (aka the company that made the best selling game in history - Halo) are splitting up. Bungie will be spun out as an independant company and Microsoft will retain a minority equity interest in Bungie. Microsoft however, will maintain all rights to the Halo series so I don't think we'll see a Halo3 for the Playstation or the Wii anytime soon.
More details on the Microsoft presspass site
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People are acting like the sky is falling on this. This had been in the works for a while so it not that big of a deal. Halo3 was a bit of a letdown for me anyways, so I wasn't looking forward to a Halo4.
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