Sony (SNE), Microsoft (MSFT) and Nintendo (NTDOY) are no strangers to the battle for video game console supremacy. Each company has taken its turn at the top and Microsoft has the edge right now as its Xbox 360 just recorded its twenty-fifth consecutive month as the best-selling home console in the United States. In 2013, however, the slate gets wiped clean. Nintendo got a head start by launching the Wii U ahead of the holidays last year, but it’s off to a rocky start to say the least. Now, it’s Sony’s turn to shine. Rumors have come hot and heavy for the past few months and today we’ll finally see what Sony has in store for us with its next-generation PlayStation 4. Will Sony’s new console be impressive enough to help revive the slumping video game industry when it launches ahead of the holidays this year? Tune into our live coverage below to find out.

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And there you have it… PlayStation 4 coming “holiday 2013”

They aren’t going to show it….

It seems to be wrapping up… Sony hasn’t shown what the PS4 looks like…

Destiny will include exclusive content on the PS4

A game called Destiny “the first shared world shooter” will be coming to the PS4

In case you didn’t know… this is the team that created Halo

Developer Bungie is coming to the PS4

Nevertheless… this is an interesting partnership

A little odd because Diablo 3 has been available on the PC for almost a year…

It will also be available for the PlayStation 3!

Diablo 3 on the PS4

This is the biggest surprise of the night

Imagine a next-gen MMORPG from Blizzard on the PS4

“Blizzard and Sony have entered into a strategic partnership”

Blizzard Entertainment executive on stage?

Largest applause of the night was for Watch Dogs

Looks like GTA on steroids

A new live demo of the game

Ubisoft executive is talking abou the company’s highly anticipated game “Watch Dogs”

As you may have assumed… another Final Fantasy title will debut on the PS4

Final Fantasy Brand Director Shinji Hashimoto is here

“The PlayStation 4… a game developer’s dream”

As you can see from all these trailers… the PlayStation 4 will offer games with extreme realism

Square Enix’s turn to showcase its game

The engine is code-named Panta Rhei

The engine looks very real

Capcom is developing a new engine for the PS4

An executive from Capcom is speaking Japanese on stage… the crowd is confused

Sony has tons of partners for the PS4

You can control the characters with the Move controller after you build them

The latest one is a “sculpting game” that uses the Move controller

The game demos are nice and all but enough is enough

We still have no clue what the console looks like… the audience is restless

“We are only limited by our imagination”

Graphics are pretty impressive

We are still waiting for some key PS4 details

A wide selection of games have been showcased… action, racing, indie/puzzle

It is exclusive to PS4

The Witness is an open world puzzle game but rather than a large world, the team made the world as “compact as possible”

Creator of the game hit game Braid has taken the stage to introduce his new game “The Witness”

“inFamous Second Son”

Not sure what this game is… some sort of action/super natural genre

“Sucker Punch’s new game exclusive to the PS4”

Another studio executive is talking about a new game

You can play some aspects of the game on a Sony tablet too

Time for a quick demo

The game is in first person

“We have gone borderline insane over real world details”

An MMO-Racing game… hmm

The game rewards you for playing in groups

“We needed the technology to catch up to us”

Evolution Studios is on stage talking about a new “team racing” game called Drive Club

The new KillZone looks very good

This game looks just incredible!

The landscape looks really nice

Here we go!

We are still waiting for a game preview

He introduced Hermen Hulst of Guerrilla Games

Michael Denny of Worldwide Studios has taken the stage

Developers seem to love the PlayStation 4’s share button.

Sony spoke with a variety of developers to help build the PS4

A video highlighting different developers is playing on the screen

Sony is investing in a cloud service that will be “rolling out in phases”

In the future, cloud technology could make it possible to play older games

Bummer… but we expected that

“PS3 titles not natively supported on PS4”

The PS Network will continue to offer Netflix, Hulu Plus, Epix, Amazon and others on the PS4

“Long term goal is to make all games playable on the PS Vita”

Sorta like the Wii U… you can transfer a PS4 game from the TV screen to the Vita screen

Sony has built “Remote play” into the architecture of the PS4

“You can ask a friend to virtually take over your game to help you beat a level”

“Friends can post comments on your screen”

“With one button from your controller you can broadcast live to your friends.”

“We created the first social network dedicated to gaming”

“Sony has partnered with social networks Facebook and UStream to bring gaming to your friends around the world”

Connection is a bit out of whack for us. Sit tight.

Still no word on HDD size or other details

It can even load games on your system “before you click the buy button”

The system can learn your likes and dislikes and show you digital titles that will appeal to you

You can share videos, screenshots and even watch friends play games live

The PS4 interface looks slick

“Digital titles are playable while they are being downloaded”

“The PS4 is simple, immediate, social, integrated and personalized”

A gameplay sample is on the screen

“PS4 has an 8-core CPU and the 8GB of RAM is DDR5”

The controller has (you guessed it) a touchpad and a share button

The new controller is on the screen

“Supercharged PC architecture”

8GB of RAM on the PS4

“We also wanted the system to provide easy access to everything Sony has to offer”

“For PS4 we knew core performance would be vital to the success of the console”

He is explaining the origins of console gaming and the rise of PlayStation

Mark Cerny, the lead system architect of the PS4, has taken the stage

“Over the next couple of hours we will show you what the all new PlayStation 4 is about”

PlayStation 4 is official

“Today we will give you a glimpse of the future of play”

“The user is changing us from console to mobility to muli-user play to social networking”

He is emphasizing digital content and the PlayStation Network

Mr. House is explaining the power behind the PS Vita and how it delivers unique gameplay and media to users

“We will show you many ways how the living room is no longer the center of the PlayStation… the user is”

Sony CEO Andrew House is now on stage

Reminds me how much time I have spent playing my PlayStation

A video highlighting Sony and PlayStation is on the screen

And here we go!

Welp… as is tradition they seem to be running a bit behind schedule.

“The program will begin shortly, please take your seats.”

The music selection is rather soothing, not the usual sounds we hear at these events

And we are in… The event will begin in 15 mins. Sit tight.

Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.