Breaking news.

Updated 2013:

Please view Prospect Park To Migrate AMC And OLTL Online for all current updates on the upcoming reboots. regrets to report that Prospect Park will not be able to continue with their plan to migrate “All My Children” and “One Life To Live” online. A statement from Prospect Park was released and reads:

After five months of negotiations with various guilds, hundreds of presentations to potential financial and technology partners, and a hope that we could pioneer a new network for the future, it is with great disappointment that we are suspending our aspirations to revive “One Life to Live” and “All My Children” via online distribution. It is now becoming clear that mounting issues make our ability to meet our deadlines to get “OLTL” on the air in a reasonable time period following its January 13, 2012 ABC finale impossible.

We believed the timing was right to launch an Online TV Network anchored by these two iconic soap operas, but we always knew it would be an uphill battle to create something historical, and unfortunately we couldn’t ultimately secure the backing and clear all the hurdles in time. We believe we exhausted all reasonable options apparent to us, but despite enormous personal, as well as financial cost to ourselves, we failed to find a solution.

While we narrowed in on a financial infrastructure, the contractual demands of the guilds, which regulate our industry, coupled with the program’s inherent economic challenges ultimately led to this final decision. In the end, the constraints of the current marketplace, including the evolution and impact of new media on our industry simply proved too great a match for even our passion.

In our opinion, new models like this can only work with the cooperation of many people striving to make them happen, and we would like to thank and praise the numerous people who tried to help and showed us incredible support. We are extremely grateful to the fans and media who showed great support to us through this process, to ABC who did everything in their control to help, and we are especially grateful for the support and encouragement from many of the Soaps’ cast and crew themselves.

We hope that our efforts are not lost, and that we somehow created a dialogue and movement on the feasibility of first run, network quality content online.

Of special note, we would like to thank Frank Valentini (Executive Producer), Ron Carlivati (Head Writer of OLTL), Agnes Nixon, many of the cast of OLTL including Michael Easton [John], Ted King [Tomas], Kelley Missal [Dani], Melissa Archer [Natalie], and of course Erika Slezak [Viki] all of whom signed on quickly and did all they could to help, as well as our own Christine Sacani. [“All My Children’s] Cameron Mathison [Ryan] and Lindsay Hartley [Cara] also get our sincerest thanks for their support. We feel terrible we couldn’t come through for them and we were very much looking forward to working together.

With appreciation, Rich Frank and Jeffrey Kwatinetz

Though we are very saddened by this news, and for the soap opera fans, respects Prospect Park’s attempts to keep the shows alive.

AFTRA has released a statement:

AFTRA is the union that represents actors on “AMC” and “OLTL.”

“AFTRA was deeply disappointed to read that the executives at Prospect Park have decided to suspend their efforts to produce the long-running and popular daytime serials, “One Life to Live” and “All My Children,” via online distribution. Despite initial progress in our negotiations with Prospect Park toward resolving a fair agreement to cover the performers appearing on these programs, we were perplexed and disappointed that for the past month Prospect Park has not responded to our repeated inquiries to resume those discussions. We now conclude from the press reports that Prospect Park faced other challenges unrelated to our negotiations, which prevented continuation of those discussions. We remain hopeful that an opportunity to revive these two popular series will emerge in the future, and remain ready to resume discussions should that opportunity arise.”

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– Amy Mistretta