Prospect Park (production company)
Prospect Park is a Hollywood entertainment production company, founded in 2008 by Richard H. Frank, a former executive at the Walt Disney Television, and Jeff Kwatinetz, former CEO of the talent agency The Firm, Inc.,[1] and music manager Peter Katsis. Based in Century City, California, and embodies three distinct business units: music management, television production, and a record label. On May 3, 2011, former ABC executive Josh Barry joined the company to lead the production company.
Genre
Television production company, music management, record label
2008
Richard H. Frank, Jeff Kwatinetz, Peter Katsis
Los Angeles, California, United States
The production company produced USA Network television series Royal Pains, as well as the FX Network series Wilfred and the WGN America series, Salem. The music division is divided into the management department, which guides the careers of music artists, and Prospect Park Records, an independent record label which has served as the label home to artists such as Five Finger Death Punch, Korn, and Mindset Evolution. In 2014, it added British chart toppers You Me at Six and New York rapper Azealia Banks to its roster.[2][3]
In 2013, Prospect Park launched its own web channel, The Online Network, with revivals of the long-running daytime soap operas One Life to Live and All My Children. Later that year it filed a lawsuit against ABC, the licensee of those series, and the Prospect Park Networks division filed for Chapter 11 bankruptcy in 2014. The production and music divisions remained unaffected, and in 2015 were positioned as subordinate entities to a reactivated The Firm, Inc.
Country
United States
English
720p (HD) Widescreen
Prospect Park
29 April 2013
http://www.theonlinenetwork.com/ www.toln.com (inactive)
Litigation and bankruptcy[edit]
On April 18, 2013, Prospect Park filed a $25 million lawsuit against ABC over One Life to Live, alleging ABC failed to honor its part of the licensing agreement. Among the issues named in the lawsuit are allegations of ABC's attempts to sabotage Prospect Park's revival of the soaps by killing off One Life to Live characters loaned to General Hospital, failure on ABC's part to consult Prospect Park on storylines involving One Life to Live characters, and claiming that one One Life to Live character was actually a General Hospital character.[16]
On June 6, 2013, production of both shows was halted due to a labor dispute with the International Alliance of Theatrical Stage Employees labor union, which was resolved two months later.[17] On September 3, 2013, Prospect Park announced production of All My Children and One Life to Live would be suspended until the lawsuit with ABC was resolved.[18] On November 11, 2013, several All My Children cast members announced that Prospect Park had closed production and canceled the series again.[19][20]
On March 10, 2014, Prospect Park Networks announced that it had filed for Chapter 11 bankruptcy protection while it continued its lawsuit against ABC.[21] ABC subsequently filed a countersuit seeking unpaid licensing fees.[22] TOLN was dissolved later that year. The Firm, Inc. was reactivated in August 2015, with Prospect Park Productions as a subordinate entity continuing to produce its series, including Royal Pains and Salem, and the music divisions similarly unaffected.[23][24][25]
ABC's countersuit was dismissed in October 2016, and Prospect Park's lawsuit was dismissed in December 2016, with the rights to All My Children and One Life to Live reverting to ABC.[26]