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Prospect Park, the company that, in July, announced that it had licensed the rights to ABC's canceled soaps All My Children and One Life to Live, may be preparing to announce that it will abandon plans to relaunch the two soaps on the Internet. According to sources, the company has had issues securing financing and reaching agreements with the various unions that represent the on- and off-screen talent.

"Word is that the guilds have been looking to hold OLTL and AMC to broadcast terms, which is somewhat understandable as the Prospect Park-ABC deal calls for the two series to 'continue to be delivered with the same quality and in the same format and length.'" But shows produced on broadcast terms are impossible to support with online vs. TV advertising," Nellie Andreeva reported in a post for industry site TVline.com.

The deals Prospect Park reached with the various actors from All My Children and One Life to Live were all contingent upon Prospect Park being able to hammer out deals with the actors' unions. The same is said to be true of the deals reached with the writers; the Writers Guild of America has not inked a pact with Prospect Park, meaning that the writers hired to pen scripts for the online reboot are unable to do their work.

Earlier this month, Prospect Park shelved its plans for a January relaunch of All My Children and instead decided that it would focus its attention on getting One Life to Live to transition to the 'net. A week later, rumors began surfacing that Prospect Park had not been able to secure financing to make its online endeavor possible

TVLine does offer some hope that Prospect Park might make one last effort to get some deals in place, but there is also a possibility that the company could opt to bow out of the soap reboot business altogether.

"I hear that Prospect Park principals are still trying to find a last-minute solution to keep the soap online venture going but feel pressed into a corner after exhausting every possible avenue and may decide to pull the plug as soon as today," Andreeva added.