Severance, arguably Apple TV's biggest hit outside of Vince Gilligan's Pluribus, has now been fully acquired by the company. Fifth Season previously owned the rights to the show, but now they've come in house under Apple Studios in a deal worth $70 million.
Previously, Apple TV had largely been paying for the license to Severance, but its responsibilities involved more than that, as during production of Season 2 costs grew to a point that Fifth Season had to ask Apple to help out with the burden. In any case, it seems this gives Apple clearer control of Severance and how the series will evolve.
Via Deadline, we know that Severance will run for at least four seasons. There could be a fifth, but that's up to Ben Stiller and Dan Erickson, the creators of the show. Season 3 remains the priority right now, with plans to start shooting it in the summer. That'll still likely mean a long gap between Season 2 and 3, but Apple is hoping it won't be the same wait between the first and second lot of episodes. There is the potential that a spinoff or sequel could evolve to help fill in that gap, but it would probably be without Erickson and Stiller at the helm. Either way, whatever happens is now fully in Apple's hands.