When Microsoft announced its last Xbox 360 price drop, the cat was already out of the bag several times over. That could be the case once more, given that last week's leaked K-Mart ad, which showed a $50 price drop for the 20GB Xbox 360 model, is being backed up by a number of sources.

　　The Hollywood Reporter is reporting that Microsoft plans a $50 price cut for the 20GB Xbox 360 before the E3 Media and Business Summit, citing retail sources for the information. That might sound familiar, given that the Reporter was also the first outlet to go public with news of last year's $50 price cut, and cited retail sources for the info in that article as well.

　　As if last year's utterly unsurprising price cut wasn't enough to suggest that the retail world leaks like a sieve, Microsoft may have another big price-cut announcement thoroughly undermined by newspaper ads. In addition to the K-Mart ad, Joystiq is now reporting that a Radio Shack employee has passed on that chain's upcoming flyer, which shows a $300 20GB Xbox 360 advertised with the words "New low price!" Joystiq reports that the ad is set to take effect July 13. The E3 Summit is set for July 14-17 in Los Angeles, California.

　　For its part, Microsoft has been dealing with the reports and ads by sticking to its standard policy of not commenting on rumors or speculation.