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They are not going anywhere. They have spent the last 10 years on Halo and now they are going to spend the next 10 years on an entire new universe. They are currently working on a new IP that still wont be revealed for while. Bungie has so much talent, so I would not be worried about the quality of the new franchise!
[Edited on 06.16.2011 4:46 PM PDT]