Prospect Park, a media company that licensed "One Life to Live" and "All My Children" for online distribution, says it's abandoning the mission to revive them.
The company said in a statement Wednesday that it was unable to secure necessary financial backing and clear other hurdles. The two programs had originally been set to anchor a new online network.
"All My Children" disappeared from ABC's daytime schedule in September, and "One Life to Live" will end its run on Jan. 13. Both had been on the air for more than four decades.
They are the latest soaps to be canceled as the longtime TV genre suffers dwindling audiences and mounting costs.