Once Halo Reach is released, our sources are now confirming that this will be the last of the Halo titles to be done by franchise creator Bungie. While the Halo IP will continue, Bungie will not be the studio involved in the development of subsequent installments in the Halo franchise.

According to our sources, a good number of Bungie developers are already hard at work on new intellectual property that will become the centerpiece of a new franchise for Bungie. While our sources have been unable to confirm any specifics on what this new IP might be, it is likely that the studio will wait till Halo Reach is released or close to released before we get any real specifics.

Microsoft continues to expand the Halo IP in a variety of new directions, but all of this expansion begs the question if the studio might be risking Halo overload with all of the new directions that Halo is going. Right now, however, it seems that console players can’t get enough, and players eagerly await the release of Halo 3: ODST, which is set for release and will be available in both a standard release as well as a Collector Pack release that features a special edition Halo 3 themed wireless Xbox 360 controller. Halo 3: ODST will release on September 22nd and if the pre-orders are any indication, the title could be the catalyst to kick off the console software holiday selling season.

Halo 3: ODST will retail for $99.99 for the Collectors pack that can be ordered exclusively through Game Stop and for $59.99 in the standard edition.