(KTLA) – “Yellowstone” is coming to an end.

According to Variety, the hit series’ fifth season will be the last one and it’s set to debut in November.

However, this is not a complete goodbye to the Duttons.

An “untitled sequel series has been ordered and will debut on Paramount Network and Paramount+ in December,” the publication reported.

The announcement comes after Entertainment Tonight reported Kevin Costner wouldn’t be returning to the show after Season 5.

Behind Costner, who plays Montana rancher, John Dutton, series creator Taylor Sheridan launched a phenomenon. The opening of its fifth season last November was seen by 12.1 million viewers on the night of its debut, more people than any other scripted series last fall — a remarkable feat for a show not on a broadcast network.

The actor is reportedly in the middle of “Horizon: An American Saga,” which is a four-film series that he’s in charge of and starring in. Production is taking place in Utah.

“’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 & CEO of Showtime and MTV Entertainment Studios in a statement obtained by Variety.

Paramount would not comment on that Friday, with a spokesperson saying only, “Kevin Costner is a big part of ‘Yellowstone’ and we hope that’s the case for a long time to come.”

Not much is known about the upcoming sequel, but back in February Deadline reported that Matthew McConaughey was in talks for an upcoming project involving the franchise.

David Glasser, CEO of 101 Studios, which produces “Yellowstone” with MTV Entertainment, said the new series “will be picking up where ‘Yellowstone’ leaves off in another epic tale.” While the series hasn’t been named, the word “Yellowstone” will be part of the title — an important distinction because that wasn’t the case for spinoffs like “1883” or “1923.”

Paramount has denied published reports that actor Matthew McConaughey is signed to star in the sequel. But a spokesperson said Friday that McConaughey “is a phenomenal talent with whom we’d love to partner.”

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Following its debut on the cable network, the sequel will also air on the Paramount+ streaming network.

That’s a hugely important distinction for the company. “Yellowstone” streams on NBC Universal’s Peacock service, owned by Comcast, meaning a big chunk of revenue created by the popular drama has been going elsewhere.

“Yellowstone” is currently filming its fifth season.

Back in November, the series began airing the first half of the season, which was eight episodes.