FX Networks and FX Productions announced Friday they were officially cutting ties with Louis C.K. after the comedian admitted that the accusations made by five women who claimed he was sexually inappropriate with them are true.

The production company released an official statement to Fox News Friday where they declared the working relationship with the 50-year-old is over.

“Today, FX Networks and FX Productions are ending our association with Louis C.K.,” they wrote. “We are cancelling the overall deal between FX Productions and his production company, Pig Newton. He will no longer serve as executive producer or receive compensation on any of the four shows we were producing with him – 'Better Things,' 'Baskets,' 'One Mississippi' and 'The Cops.'

“Louis has now confirmed the truth of the reports relating to the five women victimized by his misconduct, which we were unaware of previously. As far as we know, his behavior over the past 8 years on all five series he has produced for FX Networks and/or FX Productions has been professional. However, now is not the time for him to make television shows. Now is the time for him to honestly address the women who have come forth to speak about their painful experiences, a process which he began today with his public statement.

“FX Networks and FX Productions remain committed to doing everything we can to ensure that all people work in an environment that is safe, respectful and fair, and we will continue our review of all of these productions to ensure that was and is the case.”

Comedians Diana Min Goodman and Julia Wolov told the New York Times Thursday C.K. exposed himself to them in a Chicago hotel room in 2002.

Abby Schachner shared a similar story with the newspaper, telling the Times she heard C.K. masturbating on the phone when she spoke to him in 2003. Another woman named Rebecca Corry said C.K. asked her if he could masturbate in front of her. One woman spoke to the newspaper anonymously and said something similar had happened to her.

The New York premiere of his upcoming film, titled “I Love You, Daddy” was cancelled Thursday. The Orchard announced on Friday the film would no longer be distributed.