Halo 3: A He Said... He Said Story

Bill Gates says Halo 3 will be out in time to counter Sony's PlayStation 3. Frankie said, just last week, not to expect announcements from Bungie anytime soon, and they aren't even exhibiting at E3.

What's going on? Everyone knows Microsoft would be crazy not to make a Halo 3; but could it be that Bungie will not be the studio to make Halo 3?