And the ABC/Prospect Park drama continues! Deadline reports that on March 7, ABC filed a countersuit against Prospect Park Networks (PPN) for failure to pay the licensing fees owed for the rights to ALL MY CHILDREN and ONE LIFE TO LIVE. “ABC sues to recover all unpaid Series Fees owned up to and through the date of the trial of this action as a result of Prospect Park’s failure to pay in breach of the License Agreement,” reads the filing.
In their Chapter 11 bankruptcy filing earlier this week, PPN claimed that they owed ABC $1.7 million, but the network says that the fees arrangement for multi-seasons series entitles them to more than $145 million, and that they were only paid a portion of the $4.5 million Season 1 fee owed for AMC, and the $4 million owed for OLTL.
For the full story from Deadline, click here.