E3 2020 has been cancelled due to the coronavirus outbreak, but Microsoft and Ubisoft have already announced that they will still be continuing with the announcements and news, but this time through digital events.
In the ESA's statement about E3's cancellation, it also suggested that an online alternative could happen in lieu of the in-person event. Phil Spencer's tweet, below, suggests that Microsoft will be doing its own thing, but that doesn't exclude them from being part of an online E3.
E3 has always been an important moment for Team Xbox. Given this decision, this year we'll celebrate the next generation of gaming with the @Xbox community and all who love to play via an Xbox digital event. Details on timing and more in the coming weeks https://t.co/xckMKBPf9hMarch 11, 2020
Ubisoft hasn't committed to anything yet, but it's currently "exploring options for a digital experience."
An update regarding E3 2020. pic.twitter.com/cThkDIkfVmMarch 11, 2020
A growing number of publishers had already opted to skip E3 or host adjacent events instead, including Sony and Nintendo, so this might push others to follow suit, potentially making it hard for E3 to stage a comeback next year.
With two of the year's largest industry events cancelled or postponed, a lot of companies are going to be rushing to find alternatives. At least in the case of E3 the cancellation came months in advance, but GDC attendees only had a couple of weeks notice.