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November 10, 2018 12:35 AM

Chip and Joanna Gaines are expanding their empire and making a return to television!

During an appearance on The Tonight Show Starring Jimmy Fallon on Friday, the Fixer Upper stars announced they are getting their own TV network.

“We signed a non-disclosure and it said quote unquote you can tell your mother but that’s it,” Chip, 43, joked after Fallon asked if the couple would ever return to TV. “So mom, I just wanted to make a quick announcement, we are coming back to television. You are going to get to see the kids grow up, you are going to see us, well maybe a six-month delay like the rest of the world, but we are excited to be back.”

Magnolia spokesman John Marsicano also confirmed the news in an exclusive statement to PEOPLE: “We’re excited to share that we are currently in the early stages of talking with Discovery about a lifestyle-focused media network for Magnolia. The details surrounding this opportunity remain a work in progress, but together, our hope is to build a different kind of platform for unique, inspiring and family-friendly content.”

RELATED: Chip and Joanna Gaines Say They ‘Have a Lot of Help’ with Baby Crew from Their Older Kids

The Tonight Show

Speaking with Fallon, Chip offered some insight into his next venture with Joanna, 40.

“I think we’re really going to carve it out in a way that really makes sense to us and our families,” he said. “It’ll be filmed a lot in Waco, Texas, so we don’t have to travel a whole lot. All things being equal, we could not be more excited.”

WATCH THIS: Joanna Gaines on Juggling 5 Kids and Her Magnolia Empire: Crew ‘Gave Me an Extra Kick in My Step’

In partnership with Discovery Inc., which also owns HGTV, the new network will be the latest addition to Chip and Joanna’s massive list of successful businesses, including their lifestyle magazine The Magnolia Journal (which is published by Meredith, PEOPLE’s parent company), the new Magnolia Table restaurant and their product line at Target, as well as the ever-expanding Magnolia Market at the Silos, which has turned Waco, Texas, into a tourist destination.

They have dozens of other projects, ranging from vacation rentals to memoirs, cookbooks and Joanna’s latest design book Homebody: A Guide to Creating Places You Never Want to Leave.

RELATED: Chip Gaines ‘Snuck In’ to the TodayShow and Crashed Wife Joanna’s Segment in the Cutest Way

Perry Hagopian

The news comes as a happy surprise for Fixer Upper fans, who have been hoping the couple would eventually return to the small screen after announcing they would end their hit HGTV series in September 2017 to focus on family and their businesses. The show aired its bittersweet final episode in April 2018.

“The show was amazing and we are so thankful for it, but it’s also a whirlwind where, if you are not careful, it will flat run you over,” Chip told PEOPLE in October. “You can’t believe how out of gas you are.”

Still, they never wrote off the possibility of returning. “We never rule anything out and we’re go-getters,” he said. “We love to live life to the fullest and sometimes the journey is unexpected to say the least.”

RELATED: These Are the Christmas Traditions Joanna Gaines Will Never Change: ‘It’s Perfectly Nostalgic’

While exactly how much Chip and Joanna will be in front of the camera is still to be determined, everyone is excited about the new venture.

“The Gaineses are exceptional people, true authentic storytellers and creative visionaries who will nourish millions of people with quality, family-friendly programming accessible on a 24/7 network and across all screens,” Discovery spokesperson David Leavy told PEOPLE in a statement. “Stay tuned…working out the final details…more to come soon!”

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