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"Except Bioware have said that they could port the game to the PS3 if they wanted too. So obviously there are no legal restraints in the way.

Source: http://forums.bioware.com/forums/viewtopic.html?topic=607257&forum=22&sp=0"

"It doesn't matter who published what, the fact is that Bioware (now EA) owns the Property. They can do with it what they will. I'm sure in MS publishing it, they got something out of the deal (more than likely the exclusivity for a period and/or the DLC, but as MM said, straight from the Developer's mouth, they said that it could be on other platforms aside from the 360. So whatever anyone else says is BS because THE DEVELOPER OF THE GAME has stated that the game could go multi."

Where do you get that info? I haven't seen any news where someone from Bioware or EA have said that they could port first ME game to other platforms than XBox360/PC. In first link they was only speculation about Michael Pachters analysis and that has nothing to do with Bioware or EA.

IP is owned by EA, but first games rights were Microsoft and they did make some agreement with EA about those rights, so EA could publish ME to PC. Probably deal with Bioware was similar what MS did make with Epic about GeoW. IP is owned by Epic, but MS owns rights to published game(s).

I doubt that MS would just give up it's rights to first ME game whit out any compensation from EA. It's possible that MS did settle to timed exclusivity, but it's impossible to know for sure like you guys are saying.