diff --git a/ChangeLog.txt b/ChangeLog.txt
index b9bc5d27..cb5f1fa6 100644
--- a/ChangeLog.txt
+++ b/ChangeLog.txt
@@ -1,3 +1,18 @@
+v0.5 (2022-04-10)
+=================
+ It has been a long time since the last release as I have no need for a video
+ cutter anymore and my spare time has become quite limited. As I saw this tool
+ is still of interest for people, I decided to invest some time again to at
+ least keep it usable with newer ffmpeg versions. The necessary changes required
+ a little bit more effort than I thought but I managed to get it working again
+ and I fixed some bugs on the road, too. However, due to the amount of changes,
+ I would not guarantee that there are less bugs in the code now than before. So
+ please take extra care when checking the resulting videos.
+
+ * Fixed all deprecation warnings present with ffmpeg 4.3.2 (Ubuntu 21.04)
+ * Fixed some bugs
+ * Removed libav compatibility code
+
 v0.4
 ====
  * progress information (Christoph Läubrich)
diff --git a/Makefile b/Makefile
index 8c5cb46c..49b0f5f3 100644
--- a/Makefile
+++ b/Makefile
@@ -2,7 +2,7 @@
 -include local.mk
 
 APP=avcut
-AVCUT_VERSION=0.4
+AVCUT_VERSION=0.5
 
 ifneq ($(CROSS_COMPILE),)
 	CC?=$(CROSS_COMPILE)gcc
diff --git a/README.md b/README.md
index 864056fe..859dddee 100644
--- a/README.md
+++ b/README.md
@@ -25,18 +25,11 @@ Dependencies
 
 * [ffmpeg](https://www.ffmpeg.org/)
 
-avcut also compiles with [libav](https://libav.org/) if you enable the flag in
-the Makefile but it has not been tested much.
-
 Compilation
 -----------
 
 Install dependencies:
 
-* For Ubuntu versions with libav as default, e.g., 15.04:
-
-  * `apt-get install libavcodec-ffmpeg-dev libavformat-ffmpeg-dev libavutil-ffmpeg-dev`
-
 * For Ubuntu with ffmpeg:
 
   * `apt-get install libavcodec-dev libavformat-dev libavutil-dev`