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ABC COUNTERSUES PROSPECT PARK

Deadline broke the news that on March 7, ABC filed a cross-complaint over Prospect Park's failure to pay the licensing fees it owes to ABC for the rights to AMC and OLTL. ABC claims that its overall licensing agreement with PP entitles it to more than $145 million (a number that greatly exceeds the debt Prospect Park claims to owe ABC in its bankruptcy filing, $1.7 million). ABC says that PP should have paid the network a total of $8.5 for the first seasons of AMC and OLTL but has only paid a portion of this fee (paying only what was owed through April, May and June, then paying the AMC fee for July and August but nothing for OLTL and nothing for either show since). ABC claims to have "suffered damages of not less than $5 million" as a result and is asking for compensatory damages and legal fees. A network rep stated, “We value the history and the legacy of both ALL MY CHILDREN and ONE LIFE TO LIVE…. Prospect Park has the exclusive rights to these programs. It was their decision to discontinue producing new episodes online thereby disappointing fans. Prospect Park has not honored their agreement with ABC.” For more, click here: http://m.deadline.com/2014/03/abc-lawsuit-one-life-to-live-all-my-childr....

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