According to Variety it seems that Warner Bros. and Leonardo DiCaprio's Appian Way Production Company will be making The Twilight Zone.
Rand Ravich (director of The Astronaut's Wife) has been tapped to write a script based on the landmark TV series. The initial show mixed fantasy, science-fiction and horror elements. It had a five year run on CBS and was created by the iconic Rod Serling. He wrote over half of the 156 episodes that the show had.
Warner Bros. released the 1983 film Twilight Zone: The Movie which was produced by Steven Spielberg and John Landis. They also directed various segments of the film.