The London Book Fair, one of the biggest events in the literary calendar, was called off Wednesday on concerns of the novel coronavirus outbreak.

"Reed Exhibitions has today announced that The London Book Fair 2020, scheduled to take place at Olympia, London, from 10 to 12 March will be cancelled following the escalation of COVID-19 in Europe," said a statement from organisers Reed Exhibitions.

The announcement was made following cancellations Tuesday by publishers and agencies including Curtis Brown, one of the oldest literary agencies in Europe.

Other publishers, including Penguin Random House, HarperCollins and Hachette, had already pulled out, said the London-based newspaper The Guardian.

"The effects, actual and projected, of coronavirus are becoming evident across all aspects of our lives here in the UK and across the world, with many of our participants facing travel restrictions...it is with reluctance that we have taken the decision not to go ahead with this year's event," read the statement, adding that the event will return in 2021.

The London Book Fair is one of the global marketplaces for rights negotiation and the sale and distribution of content across print, audio, TV, film and digital channels.