Prospect Park, the company that has licensed the soaps from ABC, has yet to win over enough financial backers to bring the soaps to the Internet, according to All Things D.
The company is retaining most of the same stars and behind-the-scenes team, making it a pricey venture.
According to Peter Kafka of All Things D, Jeff Kwatinetz, one of the men behind Prospect Park, will need around $80 million to produce both shows for a year. To start production, he'll need $65 million.
Seems the advertisers who used to support the shows aren't exactly confident the axes soaps will be able to attract as many eyes -- roughly 2.5 million viewers -- to their new home. To combat this problem, Kwatinetz is turning toward the bigwigs of Silicon Valley.
"A lot of the investor pool that we go to are people with Hollywood backgrounds," he told All Things D. "And while we feel that it's obvious that convergence is here, we've met with an unusual amount of skepticism. So now we're going out to Silicon Valley, and they seem to get it."
When (and if) the team finds funding, 'All My Children' and 'One Life to Live' will air on The Online Network, TOLN for short.
"We are creating TOLN to conveniently deliver fans of quality television long form programming anytime and anywhere," Prospect Park founders Rich Frank and Jeff Kwatinetz said in a statement.
'All My Children' star Susan Lucci has reportedly turned down an offer to stay with the series and has moved on to join the cast of 'Army Wives.' Meanwhile, 'One Life to Live' has retained quite a few stars. Who? Check out the gallery below.