As it lays off developers and closes studios, Xbox gets into the movie business

More big news out of Xbox today: A new division called Xbox XP will take the lead on "film and television, consumer products, strategic partnerships, and live experiences," with a focus "on how people experience our franchises beyond the games themselves."

As detailed on today's announcement, here's what that breaks down to:

XBOX PICTURES: Bringing our worlds and characters to new audiences through film, television, and other forms of linear storytelling.

XBOX PRODUCTS: Creating products that are authentic to the fandom that allow fans to celebrate and express the franchises they love.

XBOX PLACES: Bringing communities together through live events, immersive experiences, attractions, broadcasts, and destinations.

XBOX PARTNERSHIPS: Working with creators, brands, and communities to develop new experiences, sponsorships, and brand partnerships.

Xbox XP will be headed by Kayleen Walters, who previously spent a couple years as president of Minecraft studio Mojang and before that spent close to a decade in different brand and "franchise development" roles at Microsoft. …