Susan Lucci

There's a new life to live online for All My Children and One Life to Live.

ABC has sold the online rights to the canceled soaps in a multi-year deal to Prospect Park, a company led by Royal Pains executive producers Rich Frank and Jeff Kwatinetz. The company is the process of finalizing the funding for an as-yet-unnamed online TV network that would feature the soaps and eventually other programming.

"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. 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," Frank and Kwatinetz said in a statement. "We believe that by continuing to produce the shows in their current hour format and with the same quality, viewers will follow the show to our new, online network."

Report: Could ABC's canceled soaps live again online?

Both All My Children and One Life to Live, which are scheduled to end in September and January, respectively, will pick up story lines right where they left off on the new network. The shows' crews and actors will also remain in place.

"I'm just so happy that ABC found a home where the legacies of All My Children and One Life to Live can continue.  I'm excited for their future with Prospect Park," AMC and OLTL creator Agnes Nixon said. "It takes a lot of living to make a soap opera a serial, and the wonderful teams on both shows have done just that. Together, we are a big family that keeps going, and I'm looking forward to working alongside these wonderful people as we ensure that the shows will continue with all the love and excitement we've always had.  I also am so happy for our loyal fans, whom we love so much, and who have been so supportive over the last 40 plus years."

The deal was first reported by The New York Post.

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