Hollywood star Leonardo DiCaprio and Jennifer Davisson Killoran are producing via their Appian Way banner, which is based at Warners, the Hollywwod Reporter said.
A number of writers have taken a crack at the screenplay, including Anthony Peckham (Sherlock Holmes). The project is now being redeveloped for Kosinski. Plot details are being kept under wraps.
Created by Rod Serling, 'The Twilight Zone' began as a TV series that ran for five seasons on CBS from 1959 to 1964.
Subsequent TV series were revived in 1985 and 2002. The sci-fi classic, which revolves around paranormal and futuristic storylines, also spawned a 1983 film starring John Lithgow.