Now Reading
BREAKING: Prospect Park Networks Files for Bankruptcy

BREAKING: Prospect Park Networks Files for Bankruptcy

The war between and Networks over “One Life to Live” and “All My Children” continues to rage on, but today Networks took an expected step: filing for Chapter 11 .

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 with ABC?

The OnLine Network/TOLN
The OnLine Network/TOLN

First, it’s important to note that Prospect Park Networks filing for bankruptcy does NOT mean that the Prospect Park talent and management company is filing for bankruptcy as well. Prospect Park Networks (the producers of the soaps) is considered a different company from the Prospect Park company that and founded in 2008. Prospect Park, not Prospect Park Networks, is also the company behind “Wilfred” on FX and “Royal Pains” on USA so they will not be affected as well.

See Also

According to Prospect Park, this “in no way impacts PPN’s litigation” with ABC and they will continue to seek compensation for damages. In fact, the bankruptcy filing will allow Prospect Park Networks to collect on a tax credit from the Connecticut Office of Film, Television & Digital Media. However, as Deadline.com notes in their article about the bankruptcy filing, this still does not mean good news for fans hoping to see “OLTL” and “AMC” resurrected in Prospect Park Networks’ hands. It’s still unclear what either network’s intentions with the two shows are after the lawsuit is settled.

(Disclosure: Prior to contributing to Soap Opera Network, Jared Kaplan was employed by Prospect Park Networks from February 2013 – July 2013.)


©2001-2020, Soap Opera Network. A Manti, Inc. Publication. All Rights Reserved.

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.

X