Next year CES and MacWorld will overlap, due to CES changing their date. While there is some intersection in audiences, MacWorld is clearly the smaller convention, and with most of it's announcements given on the first day, I suspect that many media will send out reporters to cover MacWorld on the first day, leaving the remaining days to CES.
This isn't just a problem for media, however, but also for exhibitors showcasing their goods. While CES is more concentrated towards the consumer electronics end of things, MacWorld encompasses everything Apple.
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