PARAMOUNT has canceled the wildly popular series, Yellowstone.
However, the streaming service will air a sequel series at the end of this year.
Deadline confirmed the news on Friday.
The second-half of season five will air on Paramount in November.
With production on season five not occurring until August, it is unclear if Kevin Costner, who plays John Dutton, will be in the second-half.
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He announced his departure from the drama earlier this week.
The untitled sequel will air quickly after in December.
It will first premiere on Paramount Network and then Paramount+.
No cast has been announced yet for the Yellowstone sequel, but Deadline reported in February that Matthew McConaughey could lead the series.
A handful of the original cast is expected to return.
The outlet reported: "The announcement comes on the heels of Paramount Global falling way shy of Wall Street forecasts yesterday when the company reported a loss of $1.1 billion for Q1, leading to a 25% stock price drop."
DONE WITH DUTTON
On May 3, Entertainment Tonight reported that Kevin will not be returning to Yellowstone.
"The news comes after reports of alleged drama between the star of the Paramount Network series and co-creator Taylor Sheridan over the actor's filming commitments to the remaining episodes of the current season," the outlet wrote.
Despite Deadline reporting season five would continue filming in August, a source for ET said that the cast and crew have not gotten an update on when they will return.
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The news of Kevin dropping out of the series came after he, the show's creator Taylor Sheridan, and the rest of the cast did not attend PaleyFest in Los Angeles in April.
'GREAT SADNESS'
Just hours before Kevin said he wouldn't be returning, news of his divorce was made public.
The actor and his wife Christine Baumgartner are to divorce after 18 years of marriage.
Hollywood legend Kevin blamed "circumstances beyond his control" that drove him and Christine to divorce after having three kids.
Christine, 49, filed on Monday, TMZ reported.
The clothing designer didn't divulge specifically why she wanted to quit the relationship.
Instead, she just declared the reason being as merely "irreconcilable differences."
A representative from Kevin's team told TMZ that the divorce is of great sadness to the 68-year-old.
"It is with great sadness that circumstances beyond his control have transpired which have resulted in Mr. Costner having to participate in a dissolution of marriage action," the representative explained.
"We ask that his, Christine's and their children's privacy be respected as they navigate this difficult time."
The estranged couple shares three children together: sons Cayden, 15, and Hayes, 14, and daughter Grace, 12.
Christine is only asking for joint custody of their kids at this stage of the split and not for spousal support.
In a response that Kevin's lawyer Laura Wasser, 54, filed on his behalf on Tuesday, it was acknowledged that spousal support was "to be payable to petitioner" per their "Premarital Agreement."
Also, in the response, it was explained that Kevin wanted joint custody of their kids as well.
Christine was Kevin's second wife.
