(AGI) Rome, Apr 6 - Filmmaker David Lynch has confirmed that hewill not direct the sequel to Twin Peaks after failing to reacha financial agreement with the U.S. TV network Showtime. LastOctober, Lynch had announced that there would be a follow-up tothe 90's cult series in 2016, 25 years after the lastbroadcast. He took to Twitter to announce his decision not togo ahead with the project: "After one year and four months ofnegotiations, I left because not enough money was offered to dothe script the way I felt it needed to be done." He said he hadalready started contacting various actors over the weekend tolet them know that he would not be directing them, adding, "Ilove the world of Twin Peaks and wish things could have workedout differently." Showtime has issued a statement suggestingthat an agreement could still be found: "We were saddened toread David Lynch's statement today since we believed we wereworking towards solutions with David and his reps on the fewremaining deal points. Showtime also loves the world of TwinPeaks and we continue to hold out hope that we can bring itback in all its glory with both of its extraordinary creators,David Lynch and Mark Frost, at its helm." The original seriesstarred Kyle MacLachlan in the role of FBI agent Dale Cooper,Sherilyn Fenn, Lara Flynn Boyle and Joan Chen. MacLachlan isset to play the same role in the new series. Twin Peaks wasfirst broadcast on ABC in 1990 and 1991, achieving globalsuccess, and became such a cult show that the film Twin Peaks:Fire Walk with Me was released the following year. . .