ALHAMBRA, Calif. (KABC) -- Since Lunar New Year is the biggest event of the year for the Chinese community, deciding to cancel Alhambra's celebration due to concern over the coronavirus was a tough decision."Thousands of people. Well over 200 vendors, the performers, think about all the aftermath, the impact," said Felix Guo, senior VP with Multicultural Radio Broadcasting Inc., which partners with the Alhambra Chamber of Commerce to put the event on.He's also a radio host with the company, where the talk is coronavirus, all day every day."On Chinese social media, there's nothing else but the talk of the coronavirus. Some are fake news. But they successfully created some kind of level of panic and fear," said Guo.A possible low turnout, on top of an accelerating global health scare led them to cancel and they say vendors were all on board."They told us that this is the right thing to do, and the performers and our own people. So we all believe that being responsible to public health, we should do this, and at our own cost," Guo said.Organizers say they're willing to reschedule the event, even if it lands in May or June.