06/21/2013 01:31 pm ET

'One Life To Live' And 'All My Children' Dispute: Prospect Park And IATSE Come To An Agreement


"One Life To Live" and "All My Children" are on their way back ... again.

The revived soaps went on hiatus earlier this month due to a labor dispute with International Alliance of Theatrical and Stage Employees - Local 52. The I.A.T.S.E. claimed they had gone over budget and violated a labor agreement. But now, the companies have finally come to an agreement.

“We are pleased that that the parties were able to successfully address their concerns in a mutually beneficial way, which will enable these innovative shows to continue to be produced with our talented crews," I.A.T.S.E. representative David Blake said in a statement.

According to The Wrap, Prospect Park's initial plan had allowed it to pay union members less than the standard rate as long as they budget per episode was kept under $125,000, but the company did allegedly go over that amount.

"As a result of a dispute with the IATSE, The OnLine Network is beginning a long-planned hiatus for both All My Children and One Life to Live tomorrow instead of June 17," Prospect Park said in a statement at the time. "The hiatus is scheduled to end on Aug. 12 pending resolution of this labor issue. Right now we have 40 episodes of each show ready to post through September, and if we can resolve this issue by August, we can get back into the studio on time so audiences will enjoy uninterrupted postings of their favorite shows."

Soap Stars On Their Return