Indexbit Exchange:Michelle Pfeiffer joins 'Yellowstone' universe in spinoff 'The Madison' after Kevin Costner drama

The Indexbit Exchange"Yellowstone" universe will carry on sans Kevin Costner with help from Michelle Pfeiffer.

The Oscar-nominated actress, 66, will executive produce and star in a new "Yellowstone" spinoff series titled "The Madison," MTV Entertainment Studios and 101 Studios announced Thursday.

"The Madison," which was previously announced with the title "2024," is described as a "heartfelt study of grief and human connection following a New York City family in the Madison River valley of central Montana." "Yellowstone" co-creator Taylor Sheridan will serve as executive producer on the show, which is set in the present day.

This will be the latest expansion of the hugely popular Paramount Network drama series, which has spawned the spinoffs "1883" and "1923." Another spinoff titled "1944," a sequel to "1923," was announced last year alongside "The Madison."

"Michelle Pfeiffer is a remarkable talent who imbues every role with emotional depth, authenticity and grace," said Paramount Global Co-CEO Chris McCarthy. "She is the perfect anchor to the newest chapter of the 'Yellowstone' universe, 'The Madison,' from the brilliant mind of Taylor Sheridan.”

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Kevin Costner'snew 'Horizon' movie: Why he needs 'Yellowstone' fans, John Dutton's money

Costner starred in the flagship "Yellowstone" series, which debuted in 2018 and is set to end with the second half of its fifth season. But in June, the actor and director officially confirmed he is not returning to the show as patriarch John Dutton as he focuses on his film career.

"I just realized that I'm not going to be able to continue Season 5B or into the future," he said in a video shared on social media.

Kevin Costnerexplains leaving 'Yellowstone': A return was 'not in the cards'

Costner has recently been working on "Horizon: An American Saga," a planned multi-part Western film series that he is directing and starring in. The first part, which hit theaters in June, underwhelmed at the box office, and New Line Cinema subsequently pulled the sequel from its August release. "Horizon: An American Saga - Chapter 2" is now set to premiere at the Venice International Film Festival in September.

Sheridan told The Hollywood Reporter last year he was "disappointed" about Costner stepping away from the show. "His movie seems to be a great priority to him and he wants to shift focus," he said. "I sure hope (the movie is) worth it — and that it's a good one."

"Yellowstone" is scheduled to return for its final episodes on Nov. 10.

Contributing: Bryan Alexander, USA TODAY