Netflix (NFLX) reportedly wants seven years of exclusive film and TV rights to Microsoft’s (MSFT) Xbox game library, which includes hits like “Halo” and “Gears of War.”

The streaming company is said to have offered a deal worth half a billion dollars. But Microsoft wants more.

How Netflix and Xbox Negotiations Broken Down

Why Xbox is confident it’s asking for $800 million

Xbox XPXbox confirmed that it will be led by former Mojang president Kayleen Walters. The group was formed to handle film, television, merchandise, live events and brand partnerships.

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Now, instead of having a blanket exclusive deal with just one company, Xbox is pursuing multiple smaller deals. For example, Amazon got Fallout Season 3, Paramount Pictures got the Call of Duty movie, and Netflix still got Gears of War and Diablo.

What Netflix shareholders’ departure portends

$12.9 billion $2.7 billiona filing from the U.S. Securities and Exchange Commission (SEC) confirmed.

Lower ad revenue forecasts mean Netflix expects to earn less, which is why investors are watching its spending.

Ahead of the report, Wall Street was losing patience. According to Stocktwits, back in July, Barclays analysts said Netflix was “losing narrative control,” meaning investors no longer believed in its growth story. When investors begin to lose trust in a stock, company management usually has to prove that it can handle cash prudently.

Netflix’s push back against Xbox could be seen as a sign that the company’s new leadership is doing just that.

The risk Netflix takes by giving up its Xbox IP

If game adaptations continue to be popular, Netflix could see its competitors build loyal fan bases, which could help increase its own subscriber numbers.

Microsoft said Netflix remains a “valued partner,” so other projects they’re working on together, such as the Minecraft and Diablo shows, remain on schedule.

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