UPDATE: Series creator David Lynch has taken to Twitter to confirm his exit from Showtime's revival of "Twin Peaks."

Here are his tweets in full, which mirror the statement from David Lynch's office obtained by a fan-run Facebook page.

Dear Twitter Friends, Showtime did not pull the plug on Twin Peaks. — David Lynch (@DAVID_LYNCH) April 5, 2015

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. — David Lynch (@DAVID_LYNCH) April 5, 2015

This weekend I started to call actors to let them know I would not be directing. Twin Peaks may still be very much alive at Showtime. — David Lynch (@DAVID_LYNCH) April 5, 2015

I love the world of Twin Peaks and wish things could have worked out differently. — David Lynch (@DAVID_LYNCH) April 5, 2015

Showtime has since issued an official statement on the matter:

“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.”

ORIGINAL STORY:

Rough news out of WonderCon today — according to several tweets from convention attendees, Showtime has reportedly canceled the revival of David Lynch's cult series "Twin Peaks."

Breaking news out of WonderCon: Showtime has apparently pulled the plug on the new Twin Peaks TV series. No word yet as to why. — Bill Hunt (@thedigitalbits) April 5, 2015

David contacted cast members today to inform them Showtime pulled the plug. — Twin Peaks Festival (@TwinPeaksFest) April 5, 2015

I've got bad news. No official word yet, but it looks like the Twin Peaks on Showtime deal is dead. But remember, Twin Peaks will never die! — Twin Peaks (@ThatsOurWaldo) April 5, 2015

Showtime officially announced its return back in October, but rumors have been swirling about its cancelation for the past few weeks following David Lynch's comments during an ABC Australia interview.

As of three weeks ago, Lynch was "still working on a contract" with Showtime.

Following Lynch's comments, a "source close to the show" told Entertainment Weekly that "everything is moving forward and everybody is crazy thrilled and excited.”

The source didn't have much to add about Lynch's participation.

"Twin Peaks" follows an FBI investigation into the murder of a homecoming queen named Laura Palmer. The series is known for its bizarre, Lynchian style and while it didn't last long on television (1990-1991), it inspired a feature film following its cancelation titled "Twin Peaks: Fire Walk With Me" in 1992.

Star Kyle McLachlan was set to return to the role of Agent Cooper, and series creator David Lynch was supposed to direct all nine episodes.