UPDATE: Showtime officially states, "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."

Maybe that gum we like isn't going to come back in style: David Lynch has departed Showtime's "Twin Peaks" revival.

In a series of tweets this evening, the eccentric writer/director announced that he was walking away from the planned sequel to the early '90s cult classic he and Mark Frost created for ABC:

Sources at Showtime suggest the project remains status quo, but we'll see how long this lasts now that Lynch is no longer involved. Will Frost, Kyle MacLachlan, or anyone else want to continue without the man whose peculiar spark made the original series so memorable? You need Frost around to give some kind of narrative coherence to what Lynch does, but "Twin Peaks" without Lynch is utterly pointless.

I also have to wonder how much of this is really about the budget, and how much is Lynch getting cold feet, both about revisiting one of his most beloved projects 25 years later, and about directing every episode of the show, when he's barely directed anything in this century.

Whatever the reason, I suppose this spares us the potential of huge disappointment if the alchemy couldn't be recreated after so much time away from this universe. But whether it was good or bad, I just wanted to see them try.

Now if anyone needs me, I will be watching this clip on a loop to try to change my mood:

What does everybody else think? Should Showtime keep trying without Lynch? Could this all be a very public negotiation?

Alan Sepinwall has been reviewing television since the mid-'90s, first for Tony Soprano's hometown paper, The Star-Ledger, and now for HitFix. His new book, "TV (The Book)" about the 100 greatest shows of all time, is available now. He can be reached at sepinwall@hitfix.com