Major Nelson has announced, and placed a timer, on his official blog about Microsoft’s next big event.
The Xbox icon stated "On Tuesday May 21st, we’ll mark the beginning of a new generation of games, TV and entertainment. On that day, we’ll be holding a special press event on the Xbox campus and we invite you to join us via the live global stream that will be available on Xbox.com, Xbox LIVE and broadcast on Spike TV if you are in the US or Canada”. He also stated that 19 days later at the Electronic Entertainment Expo (E3) in Los Angeles they will continue to show their lineup of blockbuster games.
The presentation has been scheduled to be on Tuesday, May 21st at 1pm ET/10am PT/ and 17:00 GMT.
Source: Major Nelson