(the) word is Meaning in the Cambridge English Dictionary
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Meaning of “(the) word is” in the English Dictionary

"(the) word is" in British English

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(the) word is

used to refer to something that has been ​reported but not ​officiallystated: The word is (that) more ​hostages will be ​released over the next few ​weeks.
(Definition of (the) word is from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"the word is" in American English

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the word is

it has been ​reported but is not ​certain: The word is that the ​boss is ​retiringsoon.
(Definition of the word is from the Cambridge Academic Content Dictionary © Cambridge University Press)
Translations of “(the) word is”
in Chinese (Simplified) 据说, 据报道…
in Chinese (Traditional) 據說, 據報道…
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