Microsoft announces new Halo video game, Steven Spielberg-produced TV show

There are few modern video game franchises more successful than Halo, which almost single-handedly kept Microsoft's Xbox afloat during the console's shaky launch in 2001. But while the Halo franchise has gone on to gross well over $3 billion in total sales, a new game hasn't been released since Halo 4, which debuted on the Xbox 360 in 2012.

Today, Microsoft announced an ambitious plan to expand the Halo universe with Halo 5: Guardians, a new game for the Xbox One that will debut in fall 2015. "Halo 5: Guardians is a bigger effort than Halo 4," said Bonnie Ross, the general manager for the developer behind the franchise. "That applies to the content and scope of the game, as well as the technology in what's now a brand-new and more powerful engine. [...] We've invested a huge effort in retooling our tech to take full advantage of the Xbox One's hardware and ecosystem to create worlds and experiences worthy of next-gen."

Fans can also look forward to the debut of a Halo TV series, produced by Steven Spielberg, which Ross said "will stand alone, as well as complement and enrich the game experience."

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More details about both Halo 5: Guardians and the Halo TV series are expected to be revealed at June's E3 tradeshow, an annual event devoted to the future of the video game industry.