A few days ago rumors surfaced on an Xbox blog that GoldenEye 007, the classic shooter, was going to be ported to Xbox LIVE Arcade and feature online multiplayer matches. According to the latest issue of Electronic Gaming Monthly, the port was real but has been killed (I assume they dropped it into a pit of alligators).

The XBLA port was only two months from completion and featured the same sound and graphics as the original (this week's rumor had speculated on improved visuals). The project was shelved because of money. According to 1UP, Microsoft and Nintendo couldn't agree on the amount Nintendo should be compensated for the port of the game, which had originally appeared on the N64 system. Specifically, should they receive a one-time fee for the game's rights or a percentage of the LIVE Arcade revenue? The two companies couldn't reach a compromise and the port is now dead in the water.

Nintendo was looking to put GoldenEye on the Wii's Virtual Console service as well, Nintendo of America president Reggie Fils-Aime said in a recent interview. This breakdown in the agreement over the XBLA port doesn't bode well for the VC version. Microsoft purchased Nintendo's share in Rare (developer of the original GoldenEye) years ago so it seems like they could, in turn, block the Wii port. Essentially, Microsoft would be saying, "either we both get it or neither of us get it." Let's hope these two companies come to their senses and remember how much money each of them would stand to gain from having such a popular classic game for sale on their console's online services.