You can read about it here if you're interested. The short version is that a bunch of the top publishers in the game industry decided that E3 - the Game Industry's mega marketing blitz held each May in Los Angeles - was too costly and had become a large, bloated, money-sucking noise-hole.
To which I couldn't agree more.
The new approach is apparently for E3 to be replaced by a number of smaller, "more intimate" events. Adios E3 trinkets, earplugs, and booth babes. Looks like you'll have to find somewhere else to make nerds think you're into them.