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According to The Verge, Microsoft originally planned to unveil their new console at an event in April, but that event has been pushed back to May 21st. This event will be hosted at a smaller venue and the focus will be on the next console, which has been codenamed Durango. At least people can stop saying "Xbox 720."

There's been a lot of talk about Microsoft's next console requiring an always-on Internet connection, a detail that hasn't been confirmed either way. Outcry over the proposed feature led to Microsoft Studios creative director Adam Orth telling consumers to "deal with it," which prompted Microsoft to issue an official apology. Since the incident, the company has reminded employees that the next Xbox must remain under wraps.

Microsoft is expected to provide a few details at this upcoming press conference, reveal everything about this new console at E3 in June, and then actually release the console later this year. It's going to be a busy holiday season with the Sony PlayStation 4 launching around the same time.