Next-Gen.Biz is reporting that the event that all video game journalists love to hate is no more. According to senior industry sources, larger exhibitors have decided the cost of exhibiting isn' t worth it for the media exposure gained.

E3 is known as the event of the year for everyone involved in the games industry, with more than 60,000 attendees and over 400 exhibitors making their way to the Los Angeles Convention Centre each year. If reports are to be believed, the event will be cancelled or moved to a much smaller venue, simply not able to cater for such a high number of attendees and exhibitors. Publishers may well opt to hold their own events, giving up on the collective event entirely.

The Entertainment Software Association (ESA) is expected to make an announcement as soon as Monday, clarifying exactly what is to happen to the gaming calendar' s biggest event.

If this does turn out to be true, then I may never accomplish what thousands of other lucky attendees have! Isn' t that just my luck, eh?[:' (]