After a failed attempt in relaunching “All My Children” and “One Life to Live” for the web in 2013, Prospect Park co-founder Jeff Kwatinetz is returning to his roots with the relaunch of The Firm, the management and production company he co-founded in 1997 and ceased operations in 2008.

According to Deadline, the new iteration of The Firm will once again be based in Santa Monica and will primarily have a role in the evolution of music, film and television, and sports.

Following discussions with the creative community, Kwatinetz thought this was the perfect time for a return of The Firm. “In the years since we shuttered The Firm, the industry has consolidated to the point where it’s hard to find a top management company that isn’t a division of a larger entertainment conglomerate,” said Kwatinetz. “This consolidation has created an industry rife with conflicts of interest, where the artist often loses. The Firm solves that problem by making creative success the top priority.”

The management team at Prospect Park will be moving operations to The Firm, although existing television output will remain under Prospect Park, including USA Network’s “Royal Pains” and WGN America’s “Salem.” Projects currently in development for broadcast, cable and digital media will also remain: “Black Heart” at ABC, “Tough Love” (Amazon), “Hard Foul” (Showtime), “A Midsummer’s Nightmare” (Lifetime), “Relics” (Sony International Networks), and the tentatively titled ABC Family dramedy “Hearts and Clubs,” co-produced by Christina Aguilera.

The Firm will take over future film and television projects, which will be shepherded by Prospect Park TV partner Josh Barry, who will be a partner at The Firm.