ABC Wants Prospect Park Not to Extend Licensing Agreement

Prospect Park Logo

Prospect Park Logo

Since Prospect Park first hit ABC with an amended lawsuit back in November, the alphabet network has finally issued a statement regarding the matter at hand. A new report by The Hollywood Reporter states that ABC wants to make sure that Prospect Park will have no hold over the soaps.

As previously reported, Prospect Park filed an amended lawsuit which alleged ABC committed fraud and breached the licensing agreement. Seeking over $95 million in damages, Prospect Park is also demanding an extension of the licensing agreement, and their continued payment of the licensing fees be excused, while also having the agreement tolled from the time ABC allegedly breached the contract to the point where it is remedied.

ABC plans a motion to strike. Susan Klein, of Valle Makoff, represents the alphabet network, and wants the lawsuit ridded of the extension demand. THR reports that according to ABC, Prospect Park has the rights to the soaps for up to 15 seasons, of 12 calendar months each, unless Prospect Park halts production for 18 months. If that happens, then the rights revert back to ABC. As “One Life to Live” was suspended back in September, it gives Prospect Park up until March 2015 to pick it up again unless the agreement is tolled.

For the full story on the matter, click the following link to The Hollywood Reporter.

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