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MonstaMack said:
So who charges the least in royalties? MS? Sony or Nintendo? Or Apple when they release their console ? (lol).

People should also consider "money hatting" or some sort of favoritism companies get. Splinter Cell Conviction, even as a timed exclusive, must pay a bit less royalties towards MS or get some sort of free promotions. I believe MS paid Namco quite a bit to put Tales of Vesperia exclusive for several years for the 360, and so on.

Usually, "money hatting" comes in the form of reduced royalty fees or funding for advertising.  Sometimes there's also more direct develolment support or IP loaning too.  Actual money pay outs are pretty rare really.

The term started due to Microsoft's deal with Oddworld for Munch's Odyssey, though that was really more a publishing arrangement.  Microsoft funded development, but they published the game too, which isn't what we tend to use the term for today (ie: Gears of War, LittleBig Planet, Endless Ocean, etc).