Apple has acquired the IP and all rights to its hit show “Severance” from its original studio, Fifth Season, as first reported by Deadline. Under the deal, which was worth just under $70 million, Apple’s in-house studio will be producing the show’s future seasons. Fifth Season will remain as an executive producer.

The deal is similar to one Apple struck with AMC Studios for sci-fi show “Silo” after season one.

Severance will now be one of Apple’s marquee titles, joining popular series such as “Your Friends and Neighbors” and “Stick.”

According to Deadline, the production costs for Severance had exceeded what Fifth Season could afford. The studio had already requested advances from Apple and was considering relocating production from New York to Canada for bigger and quicker tax rebates. Since Apple definitely has the funds to back the show, the company decided to take full control.

Severance is important to the streamer, as the show’s second season became Apple’s most-watched series at the time. It also had the highest number of nominations at the 2025 Emmy Awards.

Deadline reports that the show is expected to run for four seasons, with the possibility of spin-offs, a prequel, and foreign versions.