"Bauer Media will not be renewing its partnership with Clarion Events to produce Empire presents Big Screen 2012," a Bauer spokeswoman said.
"Whilst the 2011 event was a considerable success, Clarion’s need to refashion the financial structure of the 2012 proposition has resulted in our decision not to take part.
"Empire magazine remains committed to creating an exciting live movie property in the UK market in the future. In the meantime, we continue to focus our efforts on strengthening our print proposition and developing the extension of our increasingly successful iPad edition."
The August 2011 event was host to three major film premieres, as well as seminars with film industry personalities and a standard exhibition area with attractions and exhibiting companies.
The idea for the inaugural event came from Empire’s wish to grow its annual Movie-Con event, usually held at the British Film Institute in London.