E3 to be cancelled or downsized?

According the Next-Gen, Doug Lowenstein, the president of the Entertainment Software Association will make announcement regarding the future of the E3 show which has been running for just over ten years now.

The reasoning behind the move seems to be that the costs outweigh the return for exhibitors, publishers arent getting the exposure they want for the loads of money and resources that go into the E3 every year. Publishers now believe that the millions they spend on E3 could be better spent by hosting smaller, specific shows much Spaceworld and the yearly X-event.

This is an obvious turning point for the industry, the E3 has been a yearly staple for gamers and publishers for a while now and if this turns out to be true well, people can expect 2007 to be a bit different. The ESA (organistion who run E3) is planning to make announcement soon so stay tuned. If 2006 was the last E3 to be held in its current form, I feel privileged having had of gone.

Source: Joystiq