Starting in early September, 2009, you won’t be able to create new events using Windows Live Events. You’ll still be able to access and edit your existing events until 2010, and we encourage you to save your photos and files from your existing events before then. In 2010 you will no longer be able to get to any of your old events, and you won’t be able to download and save old event photos and videos.
You can use Windows Live Calendar to create, plan, and manage events and invite friends and family all from one place—and you don’t need to wait for Windows Live Events to retire! You can check out these step–by-step instructions to see how easy it is to create an event in Calendar.
Source: Windows Live Wire
