Miami’s M3 Summit, which began as a conference for the most cutting-edge music, technology, fashion, and art, is on hiatus after its third consecutive year. Citing financial woes and the added work of having year-round M3 events throughout the country, the company officially announced that the 2007 edition of the conference in Miami has been cancelled.

M3 CEO Brad LeBeau stated that “in order to grow the M3 brand from a three-day annual event into a year round lifestyle experience we are entering into a significant investment/production partnership in 2007, the details for which will be announced shortly. This is an exciting move for M3, and one that requires ample time to prepare for larger opportunities in Miami and other cities”

Further details are still to come, but those headed to Miami will have to brush off their glowsticks and head to the Ultra festival this year.