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The US soap operas “All My Children” and “One Life to Live” beloved by many will live on! Disney’s ABC has sold the online rights to the two long-running soaps. The two shows are scheduled to go off the air in September but will live and continue on with the plot and current characters via the web as part of a deal with Prospect Park music, film and tv company.

It has been reported that the daily dramas will pick up where they left off on a new, yet-unnamed, TV-focused online network. Prospect Park, founded in 2008, is run by executives Rich Frank, a former Disney Studios boss, and Jeff Kwatinetz. Both are executive producers of USA Network’s hit show, “Royal Pains.”

Prospect Park is said to be finalizing its current round of funding for its Hulu-style venture in the next month to 45 days. These two shows are expected to be the first of many tv shows of brand-name TV that will eventually end up online at the site. The news of this deal will make soap fans who have been fighting for ABC to keep them on air happy. ABC said in April that it was cacneling them for much less expensive, unscripted programs.

“All My Children” debuted in 1970 and “One Life to Live” premiered in 1968.

I peeped this at @KarenVaughn.com