Peele and Kinberg are set to executive produce the series, which has The Defenders and Daredevil alum Marco Ramirez attached as a showrunner. The new series will be produced by CBS Television Studios, in association with Peele's Monkeypaw Productions and Simon Kinberg's Genre Films.
An episode count has not been announced for the first season, but CBS says it will air exclusively on its streaming service that now features "Star Trek: Discovery", Will Ferrell's "No Activity" and "The Good Wife" spinoff "The Good Fight".
The original "The Twilight Zone", created by Rod Serling, took viewers to another dimension, "a dimension not only of sight and sound but of mind". Win Rosenfeld and Audrey Chon will also serve as executive producers.
The series pickup for "The Twilight Zone" was a pretty quick one. The three will also collaborate on the show's premiere episode.
Meanwhile, reboots and revivals continue to be in high demand as broadcast, cable and streaming platforms look for proved and easy-to-market IP in a bid to cut through the cluttered landscape.
Last month, we told you that Leslie Moonves, CEO of CBS Corp., had told a group of investors that "All Access will be the home of a new version of one of the most iconic television shows of all time - The Twilight Zone".