Cancelled? Rumor Won't Die

Can one of the fine ladies of AfterEllen shed some light on a rumor that seemed to have reached a fever pitch recently? 

Apparently, more than one "insider" has claimed that South of Nowhere has been cancelled and the new episodes of Season 3B will be the last. 

I usually don't put much stock in these rumors, but the problem is this time around there is an imminent announcement on the way -- which is this week (possibly Friday).  This would seem to coincide with the "big" annoucement that a reliable spoiler-Santa announced for this week. 

If this turns out to be true...well...that just sucks.  I know the storylines have been sinking faster than the Titanic, but it's still a shame.