Prospect Park Closes Financing For Online Network Set to Air All My Children and One Life to Live!


 




As Daytime Confidential reader Antonio Shanks recently said on Twitter, if it don't make dollars, it don't make sense. Prospect Park has closed financing for The Online Network (TOLN) with multi-billion dollar private equity firm ABRY Partners.

This means we won't have to worry about handicam-carrying interns following actors around Peapack, New Jersey corn fields to get footage for the new versions of All My Children and One Life to Live. No Siree, Bob. We are walking in taaaall cotton!

“We are excited to be partnering with Jeff Kwatinetz and the rest of the team at Prospect Park, and we strongly believe that they will continue to be a leader in their innovative approach to content creation,” said Brent Stone, a partner at ABRY Partners.

Stone's firm has completed over $36 billion in leveraged transactions and other private equity investments involving approximately 450 properties. I'd say Pine Valley bazillionaire Adam Chandler and Llanview tycoon Clint Buchanan would be impressed!

 

18 Responses

  1. Profile photo of Ryan-Scott
    Ryan-Scott

    Thank you Prospect Park. I take back all the shit I said about you a year ago when the deal fell thru and thank you for NOT freezing out Agnes Nixon the way ABC did for so long…

  2. Profile photo of blake3b
    blake3b

    Great news! Hopefully this will stop the naysayers from complaining about this or that. Let’s enjoy and reveal in this, All My Children and One Life to Live were brought back to life!!!! That is really hard to believe but it’s awesome!

    Now can we do the same with Guiding Light??? I wish!

  3. Profile photo of MsAgentProvocateur1
    MsAgentProvocateur1

    [quote=THEBEST]I’m seeing a Monday April 1, 2013 premiere date for the shows. It would make sense. New month & week, plus it coincides with GH’s 50th Anniversary.[/quote]

    That would inspire a ton of April Fools Day jokes.

  4. Profile photo of david46208
    david46208

    @liason4real: Prospect Park can’t bring back other soaps. NBC nor P&G would let go of their properties without forcing PP to pay a hefty penny even though P&G nor NBC would want to do anything with those properties anyways.

  5. Profile photo of nysam
    nysam

    If they have all this $ why are the actors, writers, directors, etc. working for 50 – 70% less what they were making when the shows were on ABC?

  6. Profile photo of TV Gord
    TV Gord

    [quote=THEBEST]I’m seeing a Monday April 1, 2013 premiere date for the shows. It would make sense. New month & week, plus it coincides with GH’s 50th Anniversary.[/quote]

    Yeah, and that would do wonders for the goodwill between ABC and Prospect Park to have PP steal GH’s thunder. (sarcasm)

    (Do you SEE now why I’m always saying some soap fans have no idea how the business of television works???)

  7. Profile photo of DaytimeFan0001
    DaytimeFan0001

    Alright, I guess I’ll quit on my reservations. They have a distribution deal. I was sour on the whole thing, because all we knew was creative information, which in television and media is only 25% of the initial project. I’m happy to hear that these shows are returning, and that they are filming on the east coast again.

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