The Twilight Zone aired for five seasons (the first three presented half-hour episodes, the fourth hour-long episodes and the fifth returned to the half-hour format). It won many TV and drama awards, and drew much critical acclaim for Serling and his co-workers. Though it had a loyal fanbase,
The Twilight Zone drew only moderate ratings and was twice canceled and revived. After five years and
156 episodes (92 written by himself), Serling grew weary of the series. In 1964, he decided to not oppose its third and final cancellation.
Serling sold the rights to
The Twilight Zone to CBS. His wife later claimed he did this partly because he believed his own studio would never recoup the production costs of the programs, which frequently went over budget.