David Lynch Drops Out of 'Twin Peaks' Revival

— -- One of the creators of "Twin Peaks" says he has bowed out of Showtime's revival of the cult favorite.

David Lynch had been set to direct the new episodes, but he tweeted Sunday, "After 1 year and 4 months of negotiations, I left because not enough money was offered to do the script the way I felt it needed to be done."

He said he began calling the actors to let them know he would no longer direct the limited series. He added that "Twin Peaks" "may still be very much alive" at Showtime.

"I love the world of Twin Peaks and wish things could have worked out differently," Lynch, 69, concluded.

In a statement obtained Sunday by ABC News, Showtime responded, "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 also loves the world of Twin Peaks and we continue to hold out hope that we can bring it back in all its glory with both of its extraordinary creators, David Lynch and Mark Frost, at its helm."

Showtime announced in October that "Twin Peaks" would return in 2016 with nine episodes. Original star Kyle MacLachlan will reprise his role of FBI Agent Dale Cooper.

"Twin Peaks" originally aired on ABC for two seasons in the early 1990s.