Can't say that we all didn't see this next piece of news coming from a mile away. After word spread around the Internet like wildfire that the PlayStation 3 would be receiving a $100 price cut, it was inevitable that Sony would step in to quash the rumor. As Bloomberg.com is reporting, Sony's President Ryoji Chubachi wants to clear up any misunderstandings that notorious Circuit City advertisement may have sparked:

"We have no immediate plans as of now'' for price cuts. Any change in the console's price is a matter for Sony's game unit, Sony Computer Entertainment Inc."

 I don't exactly have a working crystal ball in my arsenal, but I'm calling BS on this one. The above canned response is the typical one we see all the time when Sony, Microsoft, or Nintendo are faced with a poorly kept secret going public. We all know Sony needs a price cut, and so do they. With a major retailer's ad showing just that, I'm having a hard time believing it's anything but true. Time to sit back, and wait for confirmation to trickle back from E3 -- in a big way.

[Thanks Joe "King Tipster" Burling]