I wasn't paying close attention, but I think when the boy goes to fight his classmate, the Shadow Man shows up and starts strangling the boy. When the boy asks him why he is attacking the "one whose bed he sleeps under" the Shadow Man says something like "I sleep under a different bed" and kills him.
The boy is eventually in the (deadly?) grip of Shadow Man. The boy protests that the Shadow Man never harms the one under whose bed he lives. The Shadow Man replies that he is the Shadow Man from under someone else's bed. A fair example of the poetic justice in the Twilight Zone. (Whereas the end of Deathshead Revisited is a great example of justice in the Twilight Zone.)
You HAVE to see the rest!!! I know people have explained the end here but it is one of my all time favourite episodes of any show!! You can get it on youtube no problem in 3 parts I think!!
Those who live by the Shadow Man will die (or whatever) by the Shadow Man seems to be the formula, or the traditional "... goes around ... comes around."
I don't think the Shadow Man kills anyone, he just attacks/scares them (it said ealier in the episode he broke some kids arm. Doesn't sound like the m.o. of a killer). The boy definitely wasn't going to have that other kid killed, and remember, the kid he was setting up was the aggressor.
Actually, I'm not 100% sure of that. I just assumed because he never killed anyone earlier that he was just supposed to be going around scaring the $hit out of people rather than killing them. I could be wrong, though. Is the boy with the glasses meant to get killed at the end? He just kind of gets throttled and leave him hanging there.
Buckle up back there, we're going into... hyperactive
The Shadow Man advances on our hero and lifts him off the ground by his neck. Struggling, the boy protests, "You said you'd never harm me!" The Shadow Man replies, in the same measured, hissing voice as always, "I am the Shadow Man, and I will never harm the person under whose bed I live. But," he adds, "I am a Shadow Man from under someone else's bed."
Camera pans back, as the Shadow Man holds him there; he kicks and struggles. End episode.
Is it just me or does the kid off that episode look exactly like the kid off that movie "Last Action Hero" Havn't seen the episode in a while but I remember thinking that.