"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."
"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."
Apple acquired the IP and all rights to Severance from Fifth Season for just under $70 million. Apple's in-house studio will produce future seasons while Fifth Season will remain as an executive producer. The deal mirrors a prior arrangement Apple made for Silo with AMC Studios after season one. Production costs for Severance exceeded Fifth Season's budget, prompting requests for advances and consideration of moving production from New York to Canada for larger, faster tax rebates. Apple has the financial resources to fully back the series and took control to secure production. The second season became Apple's most-watched series and earned strong Emmy nominations, and the show is expected to run four seasons with possible spin-offs, a prequel, and foreign versions.
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