This was posted in another community, it's from an email which was sent around Warner:
Bassist Mikey Way will be leaving My Chemical Romance later on this year.
A press conference will be held in September after Project Revolution (which Mikey will not be playing) to announce the news.
Mikey will officially leave in December. His replacement has yet to be confirmed.
We wish the best to Mikey, who will be returning to college to pursue his education.
True? Y/N?