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So, not only is Microsoft laying off 18,000 empployees, it’s also closing the doors on Xbox Entertainment Studios.
Xbox Entertainment’s biggest projects were arguably Halo: Nightfall, an upcoming digital feature, and a Halo TV series staged in the popular sci-fi universe and produced by Steven Spielberg.

These will probably go on, but the idea of other original Xbox entertainment content might be dead.

Source: http://time.com/3002474/microsoft-xbox-entertainment-studios/