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IN PHOTO : Director David Lynch attends the 'Change Begins Within: An Historic Night of Jazz to benefit The David Lynch Foundation' event in New York December 13, 2012. REUTERS/Andrew Kelly

David Lynch has pulled out of the reboot of the TV series "Twin Peaks," which he co-created in 1990. The 69-year-old, who was set to direct the Showtime revival, announced he had left the project via a series of Twitter posts on Sunday. (See tweets below.)

"We were saddened to read David Lynch’s statement today since we believed we were working towards solutions with David and his reps on the few remaining deal points," Showtime said, according to Variety. The statement also added that Showtime loved the world of "Twin Peaks," and that they are hopeful in bringing the show "back in all its glory."

The original show ran on ABC in 1990 and 1991. It was also adapted into a film in 1992: "Twin Peaks: Fire Walk with Me." The network plans to show the entire run of the TV series before the premiere of the new "Twin Peaks."

Revolving around the murder of teenage schoolgirl Laura Palmer, "Twin Peaks" is widely considered to have begun a "golden age" of television, leading the way for cinematic TV shows, such as "The Sopranos" and "The Wire." It won three Golden Globe awards in 1991, including best TV series and best actor for Kyle MacLachlan.

Showtime had announced in January that MacLachlan had signed on to reprise his role as FBI agent Dale Cooper. According to EOnline, the network also said that Lynch and co-creator Mark Frost have already penned all nine episodes of the planned new series. The news of the director’s departure will come as huge disappointment to many who have waited more than two decades for the cult show to return to television.

"Twin Peaks" is amongst a host of shows returning to the silver screen years after their cancellation. The "X-Files" is coming back to Fox as a limited series, NBC is reviving "Coach" and the network also has a "Heroes" miniseries, "Heroes Reborn" in production. Netflix is rumored to be close to greenlighting a new "Full House" while ABC is working on a reboot of "The Muppet Show."

"Twin Peaks" is scheduled to air in 2016, to coincide with the 25th anniversary of the original finale.

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