The couple's new cable channel will replace the DIY Network in 2020

By Madison Roberts
April 11, 2019 01:58 PM

Chip and Joanna Gaines paid very little attention to their teleprompter while announcing their new cable network.

While speaking on stage at Discovery Upfronts in New York City on Wednesday to discuss their new channel, which will replace DIY Network in 2020, the Fixer Upper stars played their announcement off the cuff. Chip told stories about their five kids, made a bathroom joke, and fully ignored the teleprompter in front of them reading: “Chip & Jo: please wrap up.”

Once he spotted the polite message, instead of hurrying off the stage, the beloved couple snapped a selfie in front of the huge crowd.

“**PLEASE SEE THE TELEPROMPTER!” Chip captioned the selfie, which he shared on Instagram. “Y’all… we just launched a network! #SoWeWentALittleLong…”

During their speech, Chip and Joanna expressed their excitement for the new project and gave a few hints about what’s to come.

“Our hope with this network is that it really feels like home,” Joanna said. “I think when people come, they’ll find what they were looking for. Whether its design, gardening, cooking — that it resonates with people. We hope that people come, sit and they stay a while.”

RELATED: What Will Happen to DIY Network Shows When It Becomes Chip and Joanna Gaines’s New Channel?

Added Chip, “I can tell you that if you all will give us another chance, support us like you’ve done the last 6 or 7 years, we have a funny feeling that you won’t be disappointed. We couldn’t be more excited.”

Since the home renovation stars revealed last fall that they were getting their own TV networkFixer Upper fans have been anxiously awaiting more news.

On Wednesday, Discovery, Inc. and Magnolia, the home and lifestyle brand founded by the couple, announced that in summer 2020, the Gaines’s new network will replace Discovery’s DIY Network, which is currently in more than 52 million U.S. homes.

WATCH THIS: Joanna Gaines Says Having Baby Crew at Age 40 Made Her ‘Feel Young Again’

The channel will feature long-form programming centered around community, home, garden, food, wellness, entrepreneurialism and design. The new channel will also air old episodes of Fixer Upper, which premiered on HGTV in 2013 and was one of the highest-rated series on the network during its four-year run.

“We’re thrilled to officially announce a media joint venture with Discovery,” Magnolia spokesperson John Marsicano told PEOPLE in a statement. “Our goal for this multi-platform media company is to deliver a unique, inspiring and family-friendly content experience rooted in honesty and authenticity — the kind of programming that helps bring people together. We believe Discovery is the perfect partner for this joint venture and we are excited for what lies ahead!”

Courtesy Chip and Joanna Gaines

The multi-platform media company will be named soon, and will also include a TV everywhere app, as well as a planned subscription streaming service that will debut at a later date. All services will be inspired by Magnolia and driven by the Gaines’s creative vision.

Chip and Joanna will also serve as Chief Creative Officers and current HGTV President Allison Page will serve as President of the new joint venture.

Speaking to PEOPLE last month, Joanna said fans weren’t the only ones eager for the HGTV stars’ next venture. “Even our kids are excited,” she said. “They’ll say to us, ‘You guys should do this or try that.’ They’ve really been helping us with market research.”

RELATED: Chip Gaines: ‘I Felt Caged, Trapped’ Toward the End of Fixer Upper

The couple announced they would end Fixer Upper in September 2017, and the show aired its finale the following April.

“It was such a whirlwind, and while it was amazing, I think at some point along the way, I forgot to have fun,” Joanna said at the time. “It was almost like we were on autopilot. Once we stepped out of it, I realized that whatever we end up tackling in the future, my priority is that I want to enjoy it.”

Moving forward, “If I’m not going to have fun, then I’m not doing it,” she added. “Because it’s not worth the grind.”