Skip to main content
  1. AXS Entertainment
  2. Arts & Entertainment
  3. TV

Prospect Park files Chapter 11 bankruptcy: No future for 'AMC' and 'OLTL'?

See also

Ever since ABC canceled “All My Children” and “One Life to Live” fans have been waiting for the iconic soap operas to surface online. Prospect Park has filed Chapter 11 bankruptcy and it is unlikely either soap opera will return from their recent "hiatus".

Prospect Park Networks has filed for bankruptcy according to a March 10 report from Bloomberg News. The Chapter 11 bankruptcy documents were filed on Monday in the U.S. Bankruptcy Court. According to the filed documents the company’s managers “have deemed it advisable and in the best interests of the company and its member to wind-down the company’s business and operations.”

What does this mean for fans of “All My Children” and “One Life to Live”? More than likely their beloved soaps will disappear forever and “All My Children” especially will never have the ending they deserved when the soap was pulled by ABC in September 2011.

Among the 50 to 99 creditors listed in the Chapter 11 bankruptcy papers include ABC, the law firm of Lavely & Singer, the Screen Actors Guild and the Directors Guild. Prospect Park had previously filed a lawsuit against ABC claiming that the network was sabotaging the revival of “OLTL” by poaching characters for use on soap, then killing off two of them and ruining one character for future use in the relaunch.

Follow Rachael Monaco on Twitter, Facebook, Pinterest, Bubblews and Sulia

©Rachael Monaco All Rights Reserved. No part of this article may be reproduced without prior permissions from the author. The first two sentences may be reposted with a link back to the original article.

Advertisement

Today's top buzz...

  • La Toya Jackson
    La Toya Jackson hits the club in music video for 'Feels Like Love'
    Music Buzz
  • Kliff Kingsbury
    Italy's Vincenzo Nibali wins the 2014 Tour de France
    Video
    Today's Buzz
  • Johnny Manziel
    Here's why there is no need for Jonny Manziel to apologize for his offseason partying
    NFL Buzz
  • Guys and Dolls
    Guys and Dolls at the PACE Center: Community theater at it's finest
    Camera
    15 Photos
  • Cheap Trick
    Cheap Trick brings an explosive set of hits to Phoenix on their U.S. tour
    Camera
    20 Photos
  • Most Wanted Man
    'A Most Wanted Man' shows Phillip Seymour Hoffman at his best
    Camera
    14 Photos