The end of Yellowstone is in sight.

Paramount announced Friday morning that the beloved drama will end with its current fifth season, confirming recent reports that the show is coming to a close.

The news comes just days after it was revealed that Kevin Costner was exiting after five seasons.

The last-ever episodes of Yellowstone are set to air on Paramount Network in November, but it won't end the current timeline for the Dutton family.

According to The Hollywood Reporter, a sequel series has nabbed a formal pickup and will premiere in December 2023.

The new series is expected to feature several beloved faces from the original, but we don't know who will be moving to the sequel.

It was widely reported that Matthew McConaughey would headline the new project, but it's unclear whether that's still a part of the plans.

It will debut on Paramount Network before becoming available on Paramount+ soon after.

"Yellowstone has been the cornerstone on which we have launched an entire universe of global hits — from 1883 to Tulsa King, and I am confident our Yellowstone sequel will be another big hit, thanks to the brilliant creative mind of Taylor Sheridan and our incredible casts who bring these shows to life," said Chris McCarthy, president and CEO Showtime/MTV Entertainment Studios, in a statement.

Added Glasser, who serves as the CEO of 101, "the Dutton story continues, picking up where Yellowstone leaves off in another epic tale. We are thrilled to bring this new journey to audiences around the world."

The end of the main series is likely both a financial and promotional dream, because the current series can't air on Paramount+ due to a streaming deal that sends past seasons to Peacock.

A new show featuring several fan favorites will get a lot of interest, especially given that it will take place in a world without John Dutton.

There's no telling what will happen to John, but given that he has cheated death multiple times, maybe he'll be sent to prison -- or maybe there's another trick up Taylor Sheridan's sleeve.

Luke Grimes, Kelly Reilly, Wes Bentley, Cole Hauser, Kelsey Asbille, and Gil Birmingham also star.

News of the cancellation comes after months of rumors that Costner's production schedule was creating problems for the series.

It was reported that he only had a week of availability to shoot the back half of the season.

Whether that has changed with the news of the show ending, we don't know, but it should make for an interesting conclusion.

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Paul Dailly was an Associate Editor for TV Fanatic.Follow him on X.