Prospect Park Networks Files for Bankruptcy

‘One Life to Live,’ ‘All My Children’ Producer Prospect Park Networks Files for Bankruptcy


By Tim Kenneally on March 10, 2014 @ 5:02 pm


Company had revived soaps online after ABC canceled them

Prospect Park Networks, the production company that briefly revived “All My Children” and “One Life to Live” after those series were canceled by ABC, has filed for Chapter 11 bankruptcy, according to documents filed Monday in U.S. Bankruptcy Court and obtained by TheWrap.

The documents note that the company's managers “have deemed it advisable and in the best interests of the company and its members to wind-down the company's business and operations.”

Also read: ‘One Life to Live’ Shut Down Due to ABC-Prospect Park Lawsuit

The company lists estimated assets of between $50,000,001 and $100 million, with liabilities of $10,000,001 and $50 million.

According to the documents, Prospect Park has between 50 and 99 creditors. Its biggest creditor, ABC, has a claim of $1,732,400. That claim, the company says, is “disputed subject to setoff.”