E3 Expected to downsized or cancelled

The biggest event in gaming may be gone for good.

Cost, over crowding, and undue stress on developers to get games ready for the show are all a factor in an announcement expected to be made monday morning, July 31st.

Next-Gen says the convention is to be done with altogether, and replaced with multiple yearly events for publishers. Gamespot says it will simply be shrunk to a press only event.

Until we get an official press statement from ESA’s Doug Lowenstein, enjoy the baseless rumor mongering and over excited reactionaries of the blogosphere:
4CR: E3 Gone Kaput?
Joystiq: E3 cancelled for next year and beyond
Kotaku: E3 Cancelled?!
NeoGAF: E3 Cancelled for Next Year and “Forseeable Future”?
Powet: e 3 Cancelled?