Palibhasa Tanghali new noontime show of ABS-CBN?

There's a buzz online that ABS-CBN's current noontime show "It's Showtime" will be back to its originaltimeslot, and will be replaced by upcoming noontime game show "Palibhasa Tanghali."

Newest returning Kapamilyas Richard Gomez and Joey Marquez with John Estrada are said to be the main hosts of the newest noontime game show, "Palibhasa Tanghali." Current Kapamilya noontime show "Its Showtime" will be back to its original timeslot.

Will the trio of Richard-Joey-John be good enough to tops the ratings and beat the trio of Tito, Vic, and Joey of GMA Network's and Philippines longest-running show "Eat Bulaga!?"

UPDATE: May 2, 2012-ABS-CBN Releases Statement on ‘It’s Showtime’ Rumored Ending.

There is no truth to rumors that “It’s Showtime” will be replaced. ABS-CBN is neither replacing “It’s Showtime” with another program nor moving it back to its earlier timeslot.
In fact, “It’s Showtime” today, April 30 kicked-off the launch of its new segments starting with the multi-talent showdown among Filipino families following the inter-town grand finals last Saturday, April 28.
The viewing public can look forward to the launch of new entertainment segments in the coming days as ABS-CBN continues on its mission to bring fun and hope to the Filipinos here and in TFC markets worldwide.
–Bong R. Osorio, Head of ABS-CBN Corporate Communications.