John Tintle of RealTechNews writes: Today it was announce that Microsoft and RealNetworks have buried the hatchet, and are now partners to “innovate and promote consumer choices in digital music and games.”

In actuality there were three agreements between RealNetworks and Microsoft. The first agreement ends all the companies’ antitrust disputes worldwide, the second agreement calls for a digital music collaboration between Microsoft and RealNetworks. This second agreement has Microsoft promoting Real’s Rhapsody on Microsoft’s properties. The third agreement has RealNetworks offering games through MSN Games and Xbox Live Arcade for Xbox 360.

The total cost to Microsoft for these agreements is estimated to be $761 million dollars.

More on the Deal Here Buffering…..