Prospect Park Networks may have just filed for Chapter 11 bankruptcy this week, but that isn’t stopping ABC from seeking unpaid licensing fees that they claim Prospect Park Networks has yet to pay them.
In a cross-complaint suit made available by Deadline.com, ABC is now suing PPN for “all unpaid series fees owned up to and through the date of the trial of this action as a result of Prospect Park’s failure to pay in breach of the License Agreement.” According to them, PPN had agreed to an approximate $145 million multi-season licensing agreement, yet only paid for a few months on the first seasons of “All My Children” and “One Life to Live.”
The war between ABC and Prospect Park Networks over “One Life to Live” and “All My Children” continues to rage on, but today Prospect Park Networks took an expected step: filing for Chapter 11 bankruptcy.
According to Variety.com, the online production company filed for bankruptcy earlier today in a federal court in Delaware. In a statement released by the company, they explained that “PPN is optimistic that this filing will make it possible to continue to maximize the value of its assets and settlement of past liabilities. The company is optimistic about the prospects for a smooth transition into bankruptcy.”
So what does this mean for Prospect Park? And how does this affect their lawsuit with ABC?
Out of all the talent behind “All My Children” and “One Life to Live,” the one voice missing after news that neither series would be moving forward with new episodes was that of Daytime Emmy Award winning actress Erika Slezak (ex-Victoria Lord, “OLTL”). On her official website, Slezak has broken her silence via her 2013 Holiday Letter for fans. In it, Slezak says, “I loved being back at ‘OLTL’; I loved being back with all my friends on the show and we had a wonderful time although it was short lived. Still, I am very grateful for that brief opportunity to have played Viki once more.”
On Monday, September 26, 2011, ABC premiered a new daytime talk show that brought food back to the table and into our everyday lives. Now in its third season, “The Chew” is currently enjoying one of its highest rated on record in both total viewers and key women sales demos. As the talk show celebrated its 500th episode yesterday, fans of the ABC version of “All My Children” continued to mourn the loss of their favorite daytime soap opera, which made Susan Lucci, and her character Erica Kane, a household name.
Hosted by celebrity chefs Mario Batali, Michael Symon, and Carla Hall, entertaining expert Clinton Kelly and health and wellness enthusiast Daphne Oz, “The Chew’s” celebratory episode featured a food-filled party that included an assortment of games, on-air memories and a cake to help honor the talkers achievement. Meanwhile, “All My Children” fans are trying to find ways to heal from the recent blow by Prospect Park to not move forward with a new season of its version of “All My Children,” which consistently topped the iTunes and Hulu charts during its 40+ episode run. The production company is suing ABC over claims the network was looking to create a “mega soap” with “Chew” lead-out “General Hospital.” Prospect Park co-founder Jeff Kwatinetz recently decided to take his own company to court over contract matters directly related to “AMC” and sister soap “One Life to Live.”
The multi-million dollar battle between Prospect Park and ABC over “All My Children” and “One Life to Live” isn’t the only soap opera drama the Los Angeles courts have been dealing with as of late: Apparently, Prospect Park co-founder Jeff Kwatinetz has taken his own company to court over non-compete clauses!
According to Deadline Hollywood, the producer/talent manager has filed a complaint against the company and ABRY Senior Equity IV, L.P., ABRY Investment Partnership, L.P., and ABRY Senior Equity Co-Investment Fund IV, seeking a “declatory judgment over non-compete clauses in a December 31, 2012 employment agreement he signed with Prospect Park when the Boston-based investors came on board late last year.” Or, in other words, Kwatinetz would like a judge to decide whether or not the non-compete clauses in the agreement will prevent him from working for another company for the five years stated in the contract, and whether or not PP and ABRY could force him to continue working for them for the next five years whether he would like to or not.
On her official Facebook page, “All My Children” star Jill Larson (Opal Cortlandt) broke her social media silence after it became apparent earlier this week that Prospect Park was not moving forward with a new season of either “All My Children” or “One Life to Live,” at least “at this time,” according to the actress.
The drama just never stops for Prospect Park’s “All My Children” and “One Life to Live,” with the latest shocking news regarding the online sudsers coming from the L.A. Times. According to the publication, Prospect Park is shelving ‘One Life to Live’ until the lawsuit it launched against ABC in April is resolved. Additionally, the company will focus on producing “AMC,” with writers having already started work on scripts for the second season of the show.
Oprah Winfrey has come through for soap fans after all! For a special summer soap opera event, the legendary daytime star’s network has acquired the rights to the first 40 episodes of The OnLine Network’s “All My Children” and “One Life to Live,” both of which will air for an exclusive 10-week limited engagement.
Prospect Park’s The OnLine Network announced earlier today its decision to release all weekly episodes of both “All My Children” and “One Life to Live” on Mondays, instead of the previously scheduled Mondays and Wednesdays for “AMC” and Tuesdays and Thursdays for “OLTL,” beginning Monday, July 1. Jeff Kwatinetz, co-founder, Prospect Park, tells Soap Opera Network via email, “The only difference is greater availability,” when asked how the change affects upcoming airdates of both soaps. “If [viewers] still want to watch one ep each day, or just an ‘AMC’ ep every Monday or Wed, there will be a new one there. If they want to watch the full weeks shows at once starting Monday they will all be there. This is completely giving MORE options to viewers. How could that be a bad thing?”
The news that “All My Children” and “One Life to Live” have gone into early hiatus due to a union dispute with the International Alliance of Theatrical and Stage Employees (or I.A.T.S.E.) was a bit unsettling for fans of the sudsers. And as Robin Strasser (Dorian Lord, “OLTL”) reveals in her latest hotline message, the actors were just as surprised as the viewers about the drama!