Pachter: E3 is headed for extinction

Wedbush Morgan analyst Michael Pachter has just issued a statement echoing sentiments from EA's John Riccitiello, Ubisoft's Alain Corre and Acclaim's Dave Perry in saying that E3 is... buggered.

"In our view, E3 is headed for extinction, unless the publishers and console manufacturers wake up to the fact that nobody cares about the show anymore," said Pachter.

"We believe that show is ill-timed, coming after most major holiday announcements are out, and landing during 'quiet period' for most of the companies (making meetings with investors near-impossible).

The lack of a spectacle will likely keep media away in the future, the lack of surprises will keep retailers away, and the lack of interaction with management will likely keep investors away. Without these three constituencies, the show will likely lose its relevance.

"We strongly believe that E3 should be held no later than early June (when companies can meet with investors and when some 'secrets' have yet to be revealed), and believe that the spectacle should be restored by increasing the size of the show space."

Vegas. Massive consumer show. Trade days first. Obvious.