http://articles.latimes.com/print/2012/may/21/entertainment/la-et-ct-bungie-activision-contract-20120521 Doesn't talk about them turning it down, just that something happened. It's clear there was something going on between MS and bungie for a while

Thanks for the link. That article has some interesting information, but it doesn't say anything about Microsoft being offered Destiny or Destiny content first and turning it down. If it does say this and i'm missing it, please correct me. What it does say (as far as I can tell) is that Activision's original plan was to launch Destiny on the XBOX360 and then eventually to launch it on other consoles. Obviously this didn't happen. The article doesn't say why. I think it's safe to say that the reason we didn't see it launch last gen was because it simply wasn't ready. The article doesn't say anything about Microsoft being offered or turning down exclusive content. In fact, the article only mentions what Activision intended their plan for Destiny to be in the early days of development, and goes on to say that the contract and plan may have changed. And we know is did, at least to some degree. Again, there's nothing there about Microsoft being offered exclusive content or turning it down. The only indication of this is the statement that Destiny would initially only be available on the 360 and it's successor console, and we know that ended up not being the case. It sounds more like Activision changed their mind at some point between the initial contract and later announcements. While it is possible that at one point Activision offered Microsoft an exclusive deal and Microsoft declined (which would be incredibly out of character for the company) it's just as likely that some events over that 5 year period caused Activision to alter their original plan and offer an exclusive deal to Sony instead. A bidding war is also very possibly. In fact, the only real reason I could imagine for Microsoft turning down exclusive Destiny content was if the price just became to steep. Anyway, I'm just speculating based on the information I have, which is obviously pretty incomplete.

It doesn't say they were offered destiny but from the info we can infer that destiny was definitely offered to Microsoft first due to the fact that it was supposed to launch on 360. For some reason, that whole situation broke down and turned into a game with playstation exclusives. Honestly, just from pure speculation, we know MS was looking into titanfall and threw TONS of money at respawn for it to be exclusive. They probably didn't want to invest in 2 scifi shooters...

And just to be super clear, I'm not saying that you're wrong. Its just really easy to speculate that something else might have happened.