Did the WPLY (Y100)/Philadelphia staff hold an on air funeral for the station's Modern Rock format this morning? It might have been so if rumors swirling around the Philly market come true and Radio One pulls the plug within the next 24 hours. Speculation is Radio One is going to move one of its other signals WPHI (103.9 The Beat) or Urban AC WRNB 107.9 (Philly's New R&B Leader) to Y100's 100.3 signal.

Friday (2/25) was supposed to be the day that Y100's morning team of Preston & Steve said goodbye before sitting out a six-month non-compete and returning to the market on crosstown Mainstream Rocker WMMR, but that event happened today. The air studio crammed with Y100 staffers giving remembrances of Preston & Steve moments, but there were underlying connotations of something bigger going on than the duo saying goodbye. At one point, Program Director Jim McGuinn asked the morning duo if he could use their aircheck for his resume.

Also, just before noon, middayer Bret Hamilton took his turn to say goodbye, saying this was his last airshift, before giving out new contact information and pointing listeners to Y100Rocks.com. The station has been running jockless ever since.

This would mark the second time that Radio One has killed the Modern Rock format in Philadelphia. Oddly enough, the first was when the company bought "WDRE/Philly" (WIBF, now WPHI 103.9 The Beat) and let the staff go. The WDRE staff later landed at Y100, which Radio One eventually acquired from owner Dan Lerner, and is pretty much the same group of people that Radio One is now letting go again.

Fueling the speculation of a format flip are a few things:

• A cryptic e-mail McGuinn sent out stating, "Thanks for your support over the years" and listing his home contact info.
• A new positioner on air pointing listeners to Y100Rocks.com. The site only carries a message stating, "Welcome to Y100Rocks.com. Check back for more info soon!"
• The regular Y100 Web site is currently "Under Construction"
• An e-mail sent to the station's listener club stating, "Thank you all so much for listening to Y100! Please visit us at www.y100rocks.com!"
• There is a buzz coming from local advertisers and concert promoters that have allegedly been notified of the flip.
• Y100 staffers have also reportedly been locked out of access to their company e-mail.

The station is currently on air and playing Y100's regular format.

Stay tuned to FMQB.com as this story develops.