Are there any closing conditions? If so what are the conditions? If they have not officially closed, when will they close?
2. Reports delivered to UNCENSORED state that PP has hired or is close to hiring an Executive Producer for AMC, who has been with Pine Valley for 22 years. PP is also currently interviewing potential candidates for the role of EP at ONE LIFE. Writers? I’ll have more on that later… and you’ll laugh at a few of the candidates!
3. Location, location, location: PP is planning to produce the shows in Stamford, CT. Studio space and sets are currently being designed.
4. In a deal between PP and Disney, the licensing fee for AMC was valued at a half-million more than ONE LIFE! Here are the deets:
–AMC licensing fees: $4.5M per year through 2014 / $5M 2015-17 / additional $0.5M per year 2018-21
–OLTL licensing fees: $4M per year through 2014 / $4.5M 2015-17 / additional $0.5M per year 2018-21
Once again, Llanview gets the short end of the stick despite the fact that ONE LIFE was the highest-rated ABC soap opera before it was axed; various characters continue to live on in Port Charles (and some credit the migration to GH’s recent ratings surge); and that ONE LIFE aired much later than AMC, so it’s fresher in viewers’ minds. Then again, others argue, that ONE LIFE may have been lowballed because its franchise is currently on GH and AMC isn’t. Discuss.
5. No word yet on writers, but deals have been struck with DGA and SAG/AFTRA. Though, word is, that PP intends to hire Fi-Core writers, though UNCENSORED can not confirm that intel.
6. Plans are for the shows to be 30 minutes each, four days a week with a recap-type show on Fridays.
7. UNCENSORED has confirmed that a few of the AMC cast has been contacted either directly or through their agent. A friend close to Susan Lucci confirmed this intel to SHOWBIZ 411’s Roger Freidman recently. Lindsay Hartley is another star rumoured to have been contacted, but I have still yet to confirm that.
8. PP has struck a deal with at least one major existing platform for streaming video, and their private placement offering contemplated having the shows air on a cable channel as well.
9. Hulu has done research into the feasibility of having serialized daily original content on their platform.
10. PP has retained someone with ties to both Disney and Hulu to help them transition the shows to digital media.
11. DAYTIME CONFIDENTIAL is reporting that ABC has “in fact granted Prospect Park an extension on their license agreement. Whereas PP originally had to get production of AMC and ONE LIFE off the ground by the end of January 2013, they reportedly now have until the end of February.”
Jamey Giddens, who broke the story this weekend, asked: The question is, if PP is successful in relaunching specifically ONE LIFE, what would that mean for the characters of Todd and Starr Manning, and John McBain all currently part of the GH cast of characters?
"Prospect Park has the option to give GH notice to cease using those characters," explained a source to the popular soap opera website.
Worried GH sources tell UNCENSORED not to be too surprised if they don’t see any of their favourite ONE LIFE characters in Port Charles in the near future.
Will these characters be written out of GH’s scripts as late January? No comment.
12. UNCENSORED has been leaked major financial documents about PP’s planned reboot of AMC and ONE LIFE, which I will not release at this time.
In addition, UNCENSORED was given several Prospect Park documents, which was produced in late summer. Below are the most interesting tidbits from PP’s Executive Summary and Investment Pitches. Some of the information has been redacted to protect my sources.
Executive Summary
Prospect Park is preparing to launch new episodes of soap operas All My Children (AMC) and One Life to Live (OLTL) online in early 2013
–Pursuant to 15-year exclusive renewable license to create new AMC and OLTL content
–Led by highly successful media and entertainment executives Jeffrey Kwatinetz, Rich Frank and Mike Lang
AMC and OLTL are iconic, evergreen shows with significant recent TV viewership
–3M+ Nielsen viewers per episode and 15-19M unique viewers per month for each show
–Strong ratings on ABC for >40 years through 2011/12
Highly attractive market exists for digital re-boot with new episodes based on recent market research
–Episodes to air in free, ad-supported 1st window online with strong sponsorship partners.
–Subscription and digital VOD/iTunes offer additional digital business models
–Other traditional distribution includes linear TV/cable syndication and foreign sales
If successful, long-term potential to leverage expertise and soaps cash flow into new digital content offerings with Prospect Park
–Soaps can also be scaled (e.g., half-hour to full hour, more episodes), other soap franchises, spin-offs, new digital content, etc.
AMC & OLTL Digital Re-Boot Strategy
In 2011, Prospect Park acquired rights to produce new episodes of AMC & OLTL from ABC
–15 year term (from launch date) with ROFR / matching rights for renewals
Plan to offer free, ad-supported 1st window (7-8 days), launching in early 2013
–In discussions with major sponsors regarding lead sponsorship and product integration relationship (highly attractive given historical relationship between soaps and sponsors)
–1/2-hour format with each show airing 4 days per week plus a re-cap show for 42 weeks
Combined 420 episodes per year
Additional revenue sources include:
–Subscription: Provide back episodes and a 3-screen experience (PC, Mobile/Tablet, TV)
–Digital VOD/iTunes: Individual episode downloads and weekly/monthly packages
–2nd window linear TV/cable syndication: Traditional distribution (including TV Everywhere rights) with 1-2 week delay
–Foreign sales: Licensing rights in international markets
Opportunity to significantly improve AMC and OLTL content and viewer experience
–Access to better stars, writers, directors, music, etc. (Editor’s Note: How classy, Prospect Park! We had better, thank you very much.)
–“Sexier” shows with better music
–Less (but more targeted) advertising
–Social/community features
Below are the bios of everyone involved in this venture:
Leadership
Jeffrey Kwatinetz, CEO of Prospect Park
Jeffrey Kwatinetz is one of the most innovative and successful media executives operating in entertainment today. Throughout his over 20-year career, Kwatinetz has anticipated and tapped into market trends to propel talent and entertainment content to cultural and economic success. Across the music industry, Kwatinetz has cultivated over 35 music acts to stardom and steered the careers of some of world’s most prominent actors and directors. Today Kwatinetz serves as CEO of Prospect Park, a media and production company with a portfolio of high-profile entertainment clients and film and television production under its banner.
Past and present clients of Jeff Kwatinetz and Prospect Park include:
–Music talent: Backstreet Boys, Smashing Pumpkins, Jane’s Addiction, Ice Cube, Korn, Flyleaf, Guns N’ Roses, and Kelly Clarkson
–Feature talent: Leonardo DiCaprio, Samuel L. Jackson, Benicio Del Toro, Rachel Weisz, Vin Diesel, Cameron Diaz and Kate Hudson
–Literary talent: Martin Scorscese, Bill Condon, Larry McMurtry, Diana Ossana, Goldie Hawn, Pete Berg and Ron Bass
He has managed the careers of numerous prominent talent, steering many to superstardom status around the globe. As an evangelist for artists, Kwatinetz innovated the business model for musicians in many ways, including redefining the management function by bringing promotion, marketing and A&R in-house.
At Prospect Park, Kwatinetz launched a 360 management/record business hybrid whereby artist and Pros
pect Park share equally in proceeds of record sales, touring, publishing and merchandising. By doing so, artist and Prospect’s interests are aligned, maximizing the benefit for both while eliminating the need for the traditional record company and artist management functions.
With Prospect Park, Kwatinetz is addressing the need for high quality content delivered across multiple platforms. He serves as executive producer of the F/X hit comedy Wilfred, and USA Network’s #1 show, Royal Pains. The company additionally has several films and television programs in development and manages the careers of artists and talent across film, music and television.
Kwatinetz founded Prospect Park in 2009 after several successful years operating as the CEO of The Firm where he was the steward and architect of the industry’s most powerful entertainment management and production company.
Also while at The Firm, Kwatinetz partnered with his team to create a $325 million brand fund and generated over $100 million in lucrative sponsorship deals for both clients and marketers.
Kwatinetz served as an adjunct professor at Northwestern University. He graduated cum laude from Harvard University with a Juris Doctor in 1991, and holds both a Masters Degree and B.S. Degree in Communications from Northwestern