This information comes following a comment from Windows watcher Paul Thurrott who recently said Microsoft would reveal its new console at an event on May 21, roughly one month after its rumored April 24 reveal. That date was later verified by The Verge's own sources.
According to The Verge's sources, the event will take place at a small venue and will feature the first details of the new Xbox, rumored to launch this year. A public debut is expected later in the year, with a full unveiling of the console in June during this year's E3. We have contacted Microsoft for comment and will update when additional information is made available.