Yellowstone will return for the much-anticipated second half of its Season 5 in November of 2023, and the runaway hit show will come to an end after those episodes air, Paramount Network has confirmed.

In a press release Friday morning (May 5), the network confirmed rumors that have been swirling since February that Yellowstone will wrap at the end of Season 5. According to the network's statement, Paramount has also given the green light for a new, as-yet-untitled Yellowstone sequel that will premiere in December on Paramount and then air via the Paramount+ streaming service. The cast for that sequel is to be announced "shortly."

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,” says Chris McCarthy, President & CEO of Showtime/MTV Entertainment Studios.

“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,” adds 101 Studios CEO David Glasser.

Yellowstone star Kevin Costner has been in a standoff with the producers of Yellowstone since February, as he's been unable to come to an agreement over his shooting scheduling for the second half of Season 5 due to a conflict with another project called Horizon. According to multiple reports, they've been considering killing off his character and ending the show at the conclusion of Season 5 for months. According to those reports, Paramount Network wants to move on with Matthew McConaughey joining the Yellowstone franchise.

Deadline reports that McConaughey is still in talks with Paramount to star in the new sequel, and "he is expected to be joined by a handful of original Yellowstone cast members."

Friday's press release does not clarify whether Costner's character of John Dutton will be a part of the second half of Yellowstone Season 5. The actor's wife of 18 years, Christine Baumgartner, filed for divorce from Costner on Tuesday (May 2).

As part of Taste of Country's comprehensive coverage of all things Yellowstone, check out our Dutton Rules podcast on Apple Podcasts and Spotify.

PICTURES: See Inside Kevin Costner's Spectacular Colorado Ranch

Yellowstone star Kevin Costner lives the ranch life when he's off the set of the hit show, too. The Oscar-winning actor owns a 160-acre ranch in Aspen, Colo., that's a spectacular getaway, complete with a main residence, a lake house and a river house.

The luxury retreat also features a baseball field, a sledding hill, an ice rink, multiple hot tubs and views of the Continental Divide. The ranch property comfortably sleeps 27 people, and it's currently available to rent for 36,000 a night.

22 'Yellowstone' Facts You Probably Didn't Know

How big of a fan of Yellowstone are you? These 22 facts about the Paramount Network show are sure to stump even the most dedicated viewers. They're almost all about the cast members and their real-life passions and roles. John's kids? Beth's accent? Rainwater's guitar playing? Tate's spoilers? It's all part of this list of 22 Facts You Probably Didn't Know About Yellowstone.

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