Speaking to the Wall St. Journal, ESA head honcho Doug Lowenstein said that E3 will now be called the "E3 Media Festival." And, instead of hordes of fans and press attending, the event could now cater to around 5,000 (we're assuming big press only). Also, no more convention center:
The smaller version, tentatively titled the E3 Media Festival, could occupy suites and conference rooms at two Los Angeles hotels with a target attendance of about 5,000, said Doug Lowenstein, president of the ESA, which voted to make the change Wednesday.
Apparently, independent events or private meetings will be the way to go for most publishers from here on out. The Journal quotes an EA spokesperson as saying, "The industry has gotten to a place where we can afford to have more-intimate or more-private meetings in different types of settings."
[Via Next Generation]