ABS-CBN’s Showtime ends, to go head to head with Eat Bulaga?

I have just another update about the future of ABS-CBN's noontime slot. Earlier today, ABS-CBN's game variety show "Showtime" aired it's thank you/farewell episode. Is this a sign that it will replace "Happy Yipee Yehey" and will go head to head against the Philippines longest running and undisputed #1 noontime show "Eat Bulaga!"
According to some sources, "Showtime" will be reformatted and will added with new segments to make it slightly different from it's original format and make it suitable to compete with "Eat Bulaga!". Sources added that the working title of the new "Showtime" are either "It's More Fun in Showtime" or "It's Showtime". And Eugene Domingo is rumored to be a part of the new show.