"Yellowstone" is officially coming to an end, with the fifth season finale of the megahit Paramount Network series slated to launch in November. In addition, an untitled sequel series has been ordered and will debut in December on the Paramount Network and later on Paramount+.

The announcement comes after months of speculation that Kevin Costner's desire to focus on the epic two-part western feature "Horizon" would severely impact his availability to film "Yellowstone."

“'Yellowstone' is the foundation upon which we have launched an entire universe of global hits – from '1883' to 'Tulsa King', and I am sure that our 'Yellowstone' sequel will be an even bigger hit, thanks to brilliant creativity. Taylor Sheridan and the minds of our incredible cast who bring these shows to life,” said Chris McCarthy, president and CEO of Showtime and MTV Entertainment Studios.

The exact plot and casting details of the sequel series are currently under wraps, but it was previously reported that Matthew McConaughey was in talks to star in a new show that would feature several of the "Yellowstone" characters. This is from Taylor Sheridan.

"Yellowstone" was co-produced by Sheridan and John Linson. Executive producers include John Linson, Art Linson, Sheridan, Costner, Glasser, Bob Yary, Stephen Kay and Christina Voros. Both "Yellowstone" and the new sequel are produced by MTV Entertainment Studios and 101 Studios.

"Dutton's story continues, picking up where Yellowstone left off in another epic story. We are thrilled to bring this new journey to audiences around the world," said David Glasser, CEO of 101 Studios.

"Yellowstone," which follows the Dutton family and their sprawling cattle ranch in Montana, has proven to be one of the most popular shows on television. The premiere of the first half of season 5, which aired in November 2022, drew 17 million viewers.

The sequel series not only allows Paramount and Sheridan to bypass any potential issues with Costner, but it also allows them to stream a new series featuring most of the original "Yellowstone" cast, since "Yellowstone" itself is currently streaming on Peacock.

Sheridan currently has a massive overall deal with Paramount, under which he launched the "Yellowstone" prequels "1883" and "1923" as well as the shows "The Mayor of Kingstown" and "Tulsa King." He also has upcoming shows like "Singhi," "Land Man" and "Lawman: Bass Reeves," with many more in development.