Paramount is reportedly developing a new Yellowstone spinoff focused on the characters Beth Dutton and Rip Wheeler.

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Deadline said Wednesday that Kelly Reilly and Cole Hauser have signed deals to reprise couple Beth and Rip in the new series.

Sources said Yellowstone co-creator Taylor Sheridan is working on creative for the spinoff, with other cast members to likely to return. The series would be the first Yellowstone spinoff to take place in the present day.

Variety confirmed the news.

Reilly and Hauser had been in talks for the spinoff since the summer, according to The Hollywood Reporter.

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Reports of the spinoff come days ahead of the Yellowstone Season 5 finale, set for release Sunday on Paramount Network. Many expect the episode to also serve as a series finale, considering Kevin Costner's exit from the show and his character's death in the Season 5, Part 2 premiere.

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