GMA Network Senior Vice President Atty. Annette Gozon-Valdes has released a statement regarding the present status of “It’s Showtime,” officially addressing the rumors that it will be replaced by GMA variety show “TiktoClock” once the former’s contract expires this December.

Following these speculations in the showbiz world, Gozon-Valdes said through a GMA Network post on social media that negotiations for a renewal is underway. 

“We are in the process of negotiations now for the renewal of ‘Showtime,’” she said.

The Kapuso network began its partnership with the Kapamilya noontime variety show on GMA’s free-to-air channel Good Television (GTV) in July 2023 after formally inking a contract on June 28.

Last March 20 2024, the two signed another deal that allowed the long-running noontime program to also air on GMA-7. 

Its Showtime made its GMA debut on April 6, 2024.