Lara Spencer will spend less time behind theĀ Good Morning America desk, PEOPLE has exclusively learned.

Lara Spencer will spend less time behind the Good Morning America desk, PEOPLE has exclusively learned.

The 48-year-old is stepping away from her role as coanchor of GMA to concentrate on her growing lifestyle brand and production company, DuffKat Media, a source tells PEOPLE.

“Lara loves working at GMA and she will continue to join the GMA desk on select mornings each week and contribute to special assignment reporting so she can continue building her lifestyle brand and work on all the TV shows for her production company,” says the insider.

“She knows she can’t balance GMA, all her upcoming television shows and DuffKat while also finding time for her family,” the source continued. “Not to mention, she’s in the midst of planning a wedding!

A rep for Spencer has not commented on the news.

Credit: Chichi Ubina/HGTV

Named for her teenage children Duff and Kate, DuffKat Media has a heavy slate of projects currently in active development and recently sold two shows to Scripps, which was recently acquired by Discovery Network, the insider says.

Spencer will serve as host of one of the shows and will executive-produce both of them, according to the source. She will also continue hosting Flea Market Flip, the Emmy-winning HGTV show she created that is currently in its 12th season and was just renewed for an additional season.

Spencer got engaged to her boyfriend of two years, Rick McVey, in early January. The two met after being set up on a blind date by a mutual friend.

“The first 3 attempts at this selfie had the #eiffeltower coming out of my head like a single antenna #smallvictory #paris,” Spencer captioned a smiling selfie of the pair in front of the Eiffel Tower in July.

This will be the second marriage for Spencer, who was previously wed to real estate broker and former reporter David Haffenreffer, with whom she shares her two teenage children.