Prospect Park kills All My Children reboot

Nov 23, 2011 at 6:30 p.m. ET

All My Children and One Life to Live are dead in the water. It's been confirmed that the long-running ABC dramas won't get a new lease on life. Prospect Park has pulled the plug on their online reboot.

Prospect Park has officially halted their reboot of All My Children and One Life to Live. After five months of negotiations, they've backed down from their original plan of bringing the canceled daytime dramas to the web.

One Life to Live Cast

Despite Prospect Park's good intentions, they were unable to reach deals with the multiple acting and production guilds. According to Entertainment Weekly, without the backing of the unions, the company would be unable to sell the soaps to cable networks in the future. Also, it would be extremely hard to pay guild wages for the internet series, which would generate only a fraction of ABC's ad revenue.

In an official statement released by Prospect Park, they explain the reasoning behind their decision.

"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."

They continued, "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 Jan. 13, 2012 ABC finale impossible."

This news may come as a shock to fans who have been following their cast negotiations. Prospect Park had already secured most of One Life to Live's star players including matriarch Erika Slezak, who's played Victoria Lord for 40 years. But All My Children, which went off the air in September, was at a standstill. Series' star Susan Lucci never signed on for the reboot, which was a huge blow to the production. They knew viewers would have a hard time tuning in to All My Children without the legendary Erica Kane.

Last week, One Life to Live taped their final episode, which will air Jan. 13, 2012.

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