Disney, not New Wave, pulled plug on once-popular SOAPNet channel

On Dec. 31, Walt Disney Co. pulled the plug on the cable channel it created 14 years ago to squeeze extra life from its popular daytime dramas. Don't blame local cable company New Wave Communications for pulling the plug on the Channel 66 offering. It was Disney. But like all great soap opera characters, this one didn't go down without a fight.

Disney announced three years ago its plan to fold SOAPnet to make space for Disney Junior, a channel for toddlers. The channel, which launched in January 2000, was created to give working women the opportunity to catch up on their favorite soaps - "General Hospital," "All My Children," "The Young and the Restless" - at night after work.

The channel became a big moneymaker, allowing Disney to boost profits through additional runs of soap episodes, which brought in new viewers and advertisers, and programming fees from cable operators. Programming costs were modest. In 2010, its peak year, SOAPnet generated $111 million in cash flow. But, things change.