First of all, read the official word on it. This stuff is over my head, and I don't want misinterpret it too much. Basically, Take Two Interactive (Nasdaq: TTWO) is to acquire 19.9% equity interest in Bungie, giving Take 2 distribution rights to Oni, Halo, and two other undisclosed projects (!), while Bungie retains their status as an independant developer.

I don't know what to make of it, but I think it's a great thing for Bungie. Not only will they have access to Take 2's potent North American distribution network, but they will enter into their overseas networks as well.

Bungie has yet to issue a PR on this topic, but stay tuned!