Frank O'Connor spoke candidly about the possibility of a Halo movie now that relations between Peter Jackson / Neill Blomkamp and Microsoft have fallen apart (as reported by IGN). "We're going to make a movie when the time is right," O'Connor told attendees of a session he was part of, titled "Extending Your Game Beyond the Package." He continued, frankly stating "We own the IP."
Being head of Microsoft's Halo product house (that includes everything from Master Chief plushies, to the development of games after Halo: Reach, to a possible film) though, O'Connor worries about the implications of a film on the franchise. "If we want to make a movie, the scale of all the other stuff that we do changes dramatically. We make tens of millions of dollars on ancillary stuff, toys, apparel, music and publishing. If we do a movie all of that will grow exponentially." So while that's not exactly confirmation of a movie adaptation for the Chief at some point in the future, the possibility of exponentially growing an already multi-million dollar business sounds like a pretty good excuse to us for doing one.