a new show with a different premise but one or more familiar characters taken from the parent show
The conversion of a subsidiary or division of an existing company into a stand-alone entity.
Transfer of all, or a portion of, a subsidiary's stock or other assets to the stockholders of its parent company on a pro rata basis.
A company can create an independent company from an existing part of the company by selling or distributing new shares in the so-called spinoff.
A company that is separated from a larger company because the larger one got all they could out of it and are now letting investors "take out the trash." That should read and now investors are allowed in on a great deal. Yeah, that sounds much better.