According to the internet site Next-Gen.biz major exhibitors have pulled their support for the E3 extravaganza. In their wake the game publishers have also fled the sinking ship. The ESA is expected to release an official statement today.
E3 has been the focal point of the year in the gaming industry for 12 years, but since it´s start the expo has grown to massive proportions together with the exhibitors´ expences.
ESA will most likely try to salvage something from the sinking ship, and the expo will continue in some form. However, it is more likely that the number of publisher/manufacturer spesific shows (EA´s Summer Showcase, Microsoft´s X0) will increase in the future.
[Update:] The ESA has confirmed that E3 is over in it´s present form. The show will be re-named E3 Media Festival and pushed back to July. The show will still take place in Los Angeles, but not in the big convention centre the number of attendants will also decrease from 60 000 to an estimated 5000.