The wait is over. Cougar Town has officially been renewed for a fourth season. But there's a catch: It's no longer on ABC. Instead, the gang is moving to cable. Goodbye broadcast television, hello TBS.

Penny can lives! Cougar Town has been renewed for another season. The ABC comedy has been living in limbo over the past few months, but they've finally made a decision.

Have you ever heard the phrase, "If you love something let it go?" That's exactly what ABC is doing. They're giving it away.

According to TVLine, Cougar Town is moving from ABC to basic cable, specifically TBS. Thursday morning, the network revealed that Courteney Cox and her gang are the latest additions to their roster.

"Cougar Town is a smart, whimsical sitcom that draws its humor from likable, relatable characters," said Michael Wright, president, head of programming for TBS, TNT and Turner Classic Movies . "We are thrilled to have Cougar Town moving to the TBS neighborhood as the network continues to expand its slate of original comedy series."

TBS has picked up a 15-episode order for Cougar Town's next season. And they'll also air reruns from it's first three years on ABC.

The cast and crew of Cougar Town have had a rough year: The show went on hiatus for nine months after its second season. When it finally returned, its ratings were lower than ever. Thankfully, the core fans stuck around and continued to champion the Bill Lawrence series.

One network's trash, is another network's treasure.