After several weeks of leaked information and whispers, Prospect Park has finally broken its silence on the rumored return of All My Children and One Life to Live. The company, whose first attempt to reboot both soaps on the Internet in 2011 ran into trouble, is now ready to bring back both canceled ABC soaps on the Internet.

"We are pleased to confirm that Prospect Park is reviving the beloved soap operas, All My Children and One Life To Live as the anchor programs on The Online Network (TOLN)," Prospect Park's Jeff Kwatinetz and Rich Frank said in a statement.

In addition, Prospect Park also confirmed that it had reached agreements with several of the unions representing both the on-screen and behind-the-scenes talent, as well as having made key appointments for both AMC and OLTL's production teams.

"Today we are also pleased to confirm that Prospect Park has: 1) signed guild agreements with both SAG-AFTRA (Screen Actors Guild and the American Federation of Television and Radio Artists) and the DGA (Directors Guild of America)," the statement noted.

Agnes Nixon, the creator of both All My Children and One Life to Live, will also be part of the Prospect Park team. Nixon will serve as a consultant, "guaranteeing her active involvement" in both productions. Over the weekend, Nixon released a statement announcing that the characters she'd helped to create would soon be coming "back to life."

As previously reported, Jennifer Pepperman has been named executive producer of One Life to Live, and Ginger Smith has been tapped as the EP for All My Children.

Prospect Park also revealed that it had "arranged the necessary financing to begin production in February on both All My Children and One Life To Live."

Prospect Park did not yet reveal anticipated first airdates, nor has any additional information been made about the content of each show. It is believed that, at least initially, both AMC and OLTL would air online four times a week, and each show would run about 30 minutes. The shows would be broadcast with limited commercial interruption (if any), and that would put their length on par with a network-televised 60-minute soap. All My Children and One Life to Live both had about 37 minutes of content during their final ABC-based broadcasts. Internal memos also indicate that Prospect Park could ramp up production to five days per week or extend the length of each episode.

"We thank the loyal audience and new generation of fans of both shows who have demonstrated that passion and exciting story lines are not just reserved for traditional television," the statement said. "Their enduring support encouraged us to move forward each and every day. We look forward to sharing more details including our launch air date and additional specifics in the coming weeks."