Netflix has reportedly approved a prequel to The Crown following lengthy negotiations with Left Bank Pictures.
The deal, said to be worth up to £500million, will see the acclaimed royal drama venture further into the past.
The new Netflix series will chronicle the period beginning with Queen Victoria's death on the Isle of Wight in 1901 and concluding with Princess Elizabeth's wedding at Westminster Abbey in 1947.
A source familiar with the discussions told the Daily Mail: "Netflix has been locked in negotiations with the company for quite a long time about this spin-off series, but they've recently finally managed to seal the deal and come to an agreement."
The deal is said to be worth up to £500million
|Netflix
The original series concluded in 2023 after six seasons.
Peter Morgan, who created the original series and guided it to 24 Emmy Awards, is expected to take charge of the prequel.
The insider added: "Peter had already been putting pen to pad and casting is expected to take place next year."
The historical drama proved instrumental in elevating several actors to stardom, including Emma Corrin and Josh O'Connor, who portrayed Princess Diana and Prince Charles respectively.
Charles and Diana are depicted in the popular series
|Netflix
Across its run from 2016 to 2023, the show featured Claire Foy, Olivia Colman and Imelda Staunton as Queen Elizabeth II, whilst Matt Smith, Tobias Menzies and Jonathan Pryce each took on the role of Prince Philip.
The final two series, whilst achieving strong viewing figures, received a more muted critical reception.
The prequel promises to delve into some of the most turbulent decades in British royal history, with the abdication crisis of 1936 set to be a central storyline.
Edward VIII relinquished the throne to marry American divorcee Wallis Simpson.
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The prequel will delve into some of the most turbulent decades in British royal history
|Netflix
The series will also depict multiple royal successions, spanning the reigns of Edward VII, George V and George VI, the latter being Elizabeth's father and King Charles III's grandfather.
Both the First and Second World Wars are expected to feature prominently, alongside the sweeping social transformations that reshaped Britain during the early 20th century.
The establishment of the House of Windsor in 1917, when the royal family changed its name from the German Saxe-Coburg and Gotha amid wartime anti-German sentiment, will also be explored.
By shifting focus to earlier periods, the production may avoid the controversies over historical accuracy that dogged later seasons of the original show.
Mr Morgan has previously expressed a preference for looking backwards rather than forwards.
He told The Hollywood Reporter in 2024: "For the time being, I cannot imagine any circumstances in which I'd want to go further into the present, as it were, but at the same time, I don't think I'm done with the subject."
The writer has spoken of his "20-year rule", suggesting sufficient distance is needed to properly understand historical events and their significance.
Claire Foy played a young Queen Elizabeth II in the Crown
|Netlix
He added that going back in time offers "that wonderful opportunity for metaphor", allowing stories from the past to illuminate the present "in camouflage".
GB News has reached out to Netflix, and Left Bank Pictures for comment.