"We are currently filming Season 4 of The Crown but have not commissioned any further seasons as yet, therefore any news on casting remains pure speculation," a Netflix spokesperson said in a statement, per Variety.
The Daily Mail reported on Thursday that Staunton had been tapped to succeed Colman as the Netflix drama's Queen Elizabeth II in Seasons 5 and 6. The British actress, best known for her role as Dolores Umbridge in the Harry Potter movies, has won four Olivier Awards for her theatrical work. She recently appeared in the Downton Abbey movie and Maleficent: Mistress of Evil.
Colman took over for Claire Foy as Queen beginning with The Crown's third season, which hit Netflix on Sunday. She will also play the role in the fourth season. Seasons 3 and 4 cover a new era of Elizabeth's reign, from 1964 to 1977, and feature an all-new cast of actors taking over the lead roles, including Tobias Menzies as Prince Philip, Helena Bonham Carter as Princess Margaret, and Ben Daniels as Margaret's husband, Anthony Armstrong-Jones.
The Crown Seasons 1-3 are now available on Netflix.