I believe the plan to cancel AMC and OLTL was long-term. Remember, they announced back in 2010 that SOAPnet would end in 2012. How convenient that both AMC and OLTL were cancelled shortly before SOAPnet's switch into Disney, Jr..
As for Prospect Park, I was skeptical from day one that they could pull it off. Most especially with AMC because they made the announcement in early July and AMC was ending production a month and a half later. When AMC ended production in late August, Prospect Park still hadn't made any big moves about continuing AMC (other than signing on two stars: Cameron Mathison and Lindsay Hartley) and I knew then it was over.
After the show last aired in September, PP then said they would relaunch AMC in January along with OLTL, but as months passed, they changed their story saying thatthey were going to re-focus on OLTL instead and put AMC on the backburner.
While I knew AMC was over, I had hopes for OLTL as PP signed about 14 actors. However, as Erika Slezak stated, they had the vision, but not the money and their ambitions got the best of them as they were unable to secure financing. When OLTL ended production in November without PP making any plans, I knew it was over and sure enough, a week later PP announced it was suspending plans to continue both shows. Erika says now that OLTL is pretty much dead and the cast has moved on, with a lot of former castmembers moving from NY to CA. Technically, PP still holds the online rights to AMC until Sept 2012 and OLTL until January 2013, but realistically, I don't see it happening ever.
Edited on 01/06/2012 3:37am