Today, ABC announced that it has licensed the soap operas to Prospect Park, a 2-year-old media and production company that plans to continue both series online by picking up where the TV shows leave off.
In a press release, Prospect Park promised to retain the "same quality," "format and length" of both series.
"We are privileged to continue the legacy of two of the greatest programs to air on daytime television, and are committed to delivering the storylines, characters and quality that audiences have come to love for over 40 years," Prospect Park co-founders Jeffrey Kwatinetz and Rich Frank said. "'All My Children' and 'One Life to Live' are television icons, and we are looking forward to providing anytime, anywhere viewing to their loyal community of millions."
The statement did not detail if the current casts of the shows will participate in the online versions.
Kwatinetz and Frank, a former Disney Studios executive, are the executive producers of "Royal Pains." The soap operas are expected to be the first of a number of mainstream TV shows that will reportedly find a home on their site.
In April, ABC announced it would end "All My Children" in September and "One Life to Live" in January to make room for new programming. "All My Children" has been on the air since 1970 and "One Life to Live" since 1968.