Microsoft finally announced today that it's planning to unveil its next generation plans during a special event on May 21 at Microsoft's Redmond campus. The news came via press invites sent out to media this afternoon.
The event, dubbed "A New Generational Revealed", lists a start time of 10 a.m. Pacific and mentions that Don Mattrick will lead the announcement. And in case there's any doubt that the event is to announce a new Xbox, the invitation also includes the Twitter hashtag #XboxReveal.
Given all the controversial rumors about the next Xbox being always-online and requiring players to possibly need to be online even to play solo, it'll be very interesting to see what the final feature set on the new hardware ends up being. Many are expecting hardware specifications somewhat similar to what Sony is including in the PS4, and given Sony's developer-centric and more open approach to the PS4, a number of developers are hopeful that Microsoft will be equally open with the next Xbox.
We'll have more details soon.
Update: Microsoft representatives have confirmed to GamesIndustry International that the event will be streamed live on Xbox.com, Xbox Live and it will appear on Spike TV. Additionally, Microsoft will be showcasing its next-gen lineup for the next Xbox at E3 this year with an event at the Galen Center in Los Angeles on June 10. That event will be streamed online as well.