A day after the Foo Fighters took to social media to tell fans that they would be making a big announcement on Wednesday, the band released a parody video to address rumors that they were splitting up.

Fans went into panic mode, waiting in anticipation of the announcement, fearing that the band might indeed be breaking up after several media outlets ran a Page Six report earlier this week saying that there was trouble in the Foo Fighters' paradise.

"There's tension between Foo Fighters frontman Dave Grohl and drummer Taylor Hawkins," the publication said, before quoting an anonymous source, who said that the "the band is billing it as a 'break,' but it's totally Dave going solo, and Taylor is pissed about it."

Even though Foo Fighters' rep called the rumors "utterly ridiculous," an interview Hawkins did in January further fuelled speculation that the band was done.

"We're on 'ihateus' right now, we're on an indefinite 'ihateus,'" he said, playing on the word 'hiatus.' "But that's not because we don't love each other, or don't want to make music together...We did so much in the last five or six years that - we, as a band, could go into the studio tomorrow and have just as much fun as we ever had, but I think the world needs a break from us for a little while."

However, it turned out that the big announcement was nothing more than a joke as the band put an end to all the break-up speculation with a hilarious spoof video featuring Nick Lachey.

The video starts with screenshots of newspaper headlines reporting the band's break-up and then shows a pompous Grohl leaving the band to pursue a solo career.

The parody also features famous music producer Butch Vig. "No you don't have to play an instrument; the music is in the box, all you gotta do is hit one finger," Vig tells Grohl before he starts playing the box, singing, "Now I'm free to be me, not those other three."

While Grohl tries his hand at solo-stardom, the rest of the band holds auditions to replace the former "Nirvana" drummer. That's when Lachey comes in.

The video then ends with a statement that reads, "For the millionth time we're not breaking up! And nobody's going f-----g solo!"

Watch the video below: