According the Epcot Explorer's Encyclopedia, on January 2nd, the entire Imagination pavillion is scheduled to be closed for at least a year for renovations. This could mean demolition of the building with a possible new pavillion, refurbishment of existing rides, or an overhaul of the entire Imagination Idea.
Personally, I'm tentatively happy about this news. Eo is a living fossil, which is interesting to see again, but doesn't need to be there. ImageWorks is a shell of its former self, and is mostly now a laser-cutting store. JIIWF is a tragedy as well. Maybe DreamFinder comes back, maybe we get a new pavillion. I feel like we won't end up with another husk pavillion like Wonders of Life, though, seeing as George Kalogridis (the current head of WDW) has only been in office for a half a year. It looks like a failure on your part to close something without reopening a new attraction, and he can't be seen failing this early on in his tenure. I've heard it said that WDW parks are noticeably cleaner now than they were under previous president Meg Crofton. Sooooo let's keep our fingers crossed!