Update: David Lynch appears to be quite skilled at the art of negotiating in public. Not even an hour after his tweets, Showtime released a statement (via Deadline) in which they maintain that they believe an agreement can still be reached to revive the series:

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.

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Well this is not great news. After months of excitement over the prospect of a Twin Peaks revival series with original creator David Lynch, it seems as though negotiations have fallen apart. What was once a promising development that would put Lynch back behind the camera for the first time in years has now become a disappointment, as Lynch has departed the project.

Twin Peaks

Sadly, what it all comes down to is money — Showtime isn’t willing to pay Lynch what he requires, which is really unfortunate. The scripts have already been completed, but I’m not sure how a Twin Peaks series can move forward without Lynch’s involvement. Twin Peaks is a Lynch property through and through, and when the director stepped away from the series during its original second season, the show suffered for it.

It’s unclear if co-creator Mark Frost will remain involved with the project now that Lynch has left. It seems kind of absurd that Showtime would even consider moving forward without Lynch, whose vision and voice is integral to reviving the series.

Previously, original stars Kyle MacLachlan, Sherilyn Fenn, Dana Ashbrook and Sheryl Lee had all been confirmed to return for the revival, planned for release in 2016 — 25 years after the season two finale, in which Lee’s Laura Palmer eerily told MacLachlan’s Agent Dale Cooper that she would see him again in 25 years.

Will we see Twin Peaks in 2016? Better yet, will we see David Lynch’s Twin Peaks in 2016? Perhaps only the log knows.