Fans of Fixer Upper, and its much-loved stars Chip and Jo, today have a big reason to rejoice. Great big. In a joint venture with HGTV’s parent company Discovery Inc., the couple are bringing a whole new network to television – not to mention lots of other platforms across a variety of digital spaces. The new venture is expected to debut in summer of 2020.

Fans have been eagerly awaiting an official word on this since Chip dropped his bombshell cat-outta-the-bag pronouncement on The Tonight Show Starring Jimmy Fallon last November. Details, however, have been shrouded in secrecy.

Today the wait is over. The official word is here. A new TV network — to be named soon — will be launching to provide content inspired by Magnolia and driven by the Gaines’s creative vision. That content will be available on traditional linear cable TV as well as a 'TV Everywhere' GO app. Plans are also in the works for a subscription streaming service to follow at a later date.

“Our intention with this network is to create and curate content that inspires, encourages, and helps to build bridges across our communities," said Chip and Joanna in a joint statement. "We want honest, authentic programming that brings families together.”

The new venture will extend the Gaines’ brand across devices and platforms to provide a unique, inspiring and family-friendly content experience. The TV network will feature new long-form programming with content focused around varied topics including community, home, garden, food, wellness, entrepreneurialism and design.

“Chip and Joanna Gaines have become trusted, household names since the debut of Fixer Upper," said David Zaslav, CEO, Discovery. "And through this joint venture, Discovery is proud to extend our relationship with them. They’ve got authenticity and relatability, that special something that is so difficult in our business to find. People love them, their taste, their businesses – they’ve built an ecosystem that aligns perfectly with our vision at Discovery for fueling people’s passions.”

Chip also tweeted back in November that Fixer Upper exec producer Michael Matsumoto will have a hand in a new Gaines series.

Keep checking back here at HGTV.com for news and updates on Chip and Joanna — and our soon-to-be-named sister network.

Fixer Upper Flashback

Feeling nostalgic for Fixer Upper? Here are a few of our favorite galleries featuring Chip and Jo's fabulous makeovers from the first three seasons of the groundbreaking series.