They're still leaving the airwaves, but cancelled soap operas All My Children and One Life To Live might see new life on the internet.

In a multi-year, multi-platform deal, ABC has licensed the soaps to Prospect Park, the production company responsible for USA Network's "Royal Pains."

Founded in 2008 by Jeff Kwatinetz and former Disney Studios honcho Rich Frank, Prospect Park now holds the right to produce new episodes of the shows and plans to make them a crucial part of a "new, online network" similar to Hulu.

If those plans are carried out, the licensing agreement will allow fans of the shows to watch online and on internet-enabled TV sets. Both soaps would have the same length and format, Prospect Park said.