Following the big three's announcements, an increasing number of publishers and developers are rumored or confirmed to be absent from June's E3 event.

The details:

According to IGN, Sega and Tencent have both confirmed that they will not be attending E3 in June. Sega told IGN in a statement, "After careful consideration, we have decided not to participate in E3 2023 as an exhibitor. We look forward to sharing more information on announced and unannounced projects in the future," while a spokesperson for Tencent said that its studio Level Infinite would not be attending, but that it had attended the Summer Game Fest Play Days event last year and "found it to be an ideal experience for showcasing our games to the media," possibly indicating that the company will pursue E3 alternatives in the future.
Bandai Namco did not confirm or deny attendance at E3, but it did confirm attendance at Play Days, the same event mentioned by Tencent. Devolver Digital, which has never previously attended E3 but did set up its own mini booth in an adjacent parking lot, has responded to IGN, stating that it will not only be absent from E3 but will also not be setting up shop in the parking lot, instead opting to host another Devolver Direct, as it did last year. It has not ruled out returning in the future.
This news follows the announcements by Xbox, Nintendo, PlayStation, and Ubisoft that they will not be attending the trade show in favor of their own events. E3's future is uncertain as companies continue to withdraw from the event's first in-person event since 2019. ReedPop, the event's organizer, is also rumored to be undergoing internal changes, with Lance Fensterman, the company's president, stepping down and Michael Kisken, current vice president, taking his place. Additionally, there have been reports of internal conflict within the company regarding the event, with employees feeling they are being blamed for the Entertainment Software Association's (ESA) mistakes over the years.

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Sega, Tencent, and more have pulled out of E3