Microsoft plans to launch its next-generation Xbox video game and home entertainment console ahead of the holidays next year, according to a recent report. The Los Angeles Times on Monday published a developer contract between Acitivision Blizzard and famed Halo developers Bungie. The firms are currently working on a new Massively Multiplayer Online franchise called Destiny, which will be a first-person shooter with a science fiction theme. While the fact that the companies currently have four titles planned for the series is exciting for gamers in itself, another tidbit may be even more titillating; the contract suggests that the first Destiny title will launch ahead of the holidays next year as an exclusive for Microsoft’s Xbox 360 and its next-generation console, which the document refers to as the “Xbox 720.” An earlier report from an industry industry insider suggested that Microsoft will launch an ARM-based “Xbox lite” in late 2013 followed by a true Xbox 360 successor some time later, however this new information suggests that timeline may not be accurate.

[Via PC & Tech Authority]

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