There's only one episode left for "Gravity Falls" season 2, which will also serve as the official series finale. Titled "Weirdmageddon III," the episode is now rumored to feature a world-shattering showdown between two of the series' main villains: Bill Cipher and Time Baby, reports TV Insider.

According to the report, series creator Alex Hirsch explained that despite Time Baby being blown into pieces in the previous episodes, it doesn't necessarily mean he is gone for good. He also explains how and why the two could go up against each other in the final episode of the show.

"Time Baby is a character who, in the universe of 'Gravity Falls,' has a level of power similar to Bill," he explained. "The difference being that Bill has always been trapped in a formless space where he can't affect our reality and Time Baby can affect the reality of Time."

If the two do end up fighting each other over the town of Gravity Falls, it is highly speculated that at least one of the characters might not make it out alive.

Hirsch also took to his Tumblr page to explain that the cancellation of the show was his idea and decision. He explains that "Gravity Falls" was never meant to be a series that kept going on season after season. He also stated that by leaving the show for now it would create room for potential material in the future.

These future projects will also include "Journal #3," which is part of the series' canon and is scheduled to release in 2016. This will be a short publication set after the events of the season 2 finale.

"Weirdmageddon III" is currently scheduled to air sometime in early 2016, although no specific release date has yet been given. It is speculated that the episode may air from the middle of January to early March, although nothing is concrete at the time being.