One Life to Live premiered in 1968, followed my All My Children in 1970. Stars like Ryan Phillippe, Nathan Fillion, Marcia Cross, Tommy Lee Jones, Judith Light and Yasmine Bleeth got their start on OLTL.
AMC, meanwhile, gave breaks to future A-listers like Sarah Michelle Gellar, Michelle Trachtenberg, Melissa Leo, Kelly Ripa, Josh Duhamel, Eva LaRue, Christian Slater, Rosie O'Donnell and Amanda Seyfried.
AMC's final episode will air in September 2011, and OLTL's will air in January 2012.
Disney/ABC Television President Brian Frons called the cancellation "bittersweet" and said in a statement: "Each of the shows has touched million and millions of viewers and informed the social consciousness. It has been a privilege to work with the extraordinary teams who brought the residents of Pine Valley and Llanview to life each day, and we thank the cast, crew, producers and most especially the fans for theircommitment to the shows through their history."