I think an entire book could be written on P&G and their relationships with the networks and the soaps, so it would be easier (on you and me) to just discuss what was brought up. The "Too Long/Didn't Read" version is that yes, P&G was an active participant in the dismantling of their production company, though obviously there were others participating in it.
P&G created the soap business and did it better than anyone else.
Television is much more of a "What have you done for me lately?" type of enterprise. The network execs P&G dealt with were not the type to let them use their past glories to excuse present-day failures. But the networks were also guilty of micro-managing to the point that it became hard to figure who
caused the failures. In the earlier decades there was very little interference in day-to-day stories and projected storylines, which I think was why those years were so much more creative and had production teams that stayed in place for decades. In the post-1980 era, the networks began sticking their noses in and making it harder to tell if personnel decisions (in front or behind the camera) were network-dictated or something the show actually decided on its own. P&G as a corporation always had a reputation for keeping their secrets in-house; some have likened the company culture to a cult. This made it hard to tell who was making decisions that impacted the shows as we saw them, since the employees of the shows were under pressure not to blab to the press about what was going on behind the scenes. Of course some things did indeed leak out over the decades, but you had to do a lot of "reading between the lines".
NBC canceled Another World and CBS canceled Guiding Light and As the World Turns. If P&G wanted out, they could have chosen to either stop making their shows or sell their shows — it was rumored in the early 2000s that CBS wanted to buy ATWT and GL.
In AW's case, P&G did a disastrous "producer shuffle" in the mid-1990s for no apparent reason where Jill Farren Phelps, the dreaded and dreadful EP at
Guiding Light was moved to AW, while AW's EP ended up at
As the World Turns and theirs at GL
. It later became apparent that Phelps had been moved from GL to AW because she was causing grievous harm to that show, and that P&G cared more about their CBS shows since they were not as challenged, ratings-wise. The newly-installed producers at GL and ATWT were not ideal, either (ATWT especially fell into its worst creative period in its history), but Phelps inflicted even more damage on AW than she had at GL. Was it intentional? Probably not; never ascribe to malice that which can be adequately explained by incompetence. But it was P&G who let Phelps make the mess at GL and then kept her in the 'family' rather than firing her, then did not hire better EP's (or move the old one back) to pull AW back together. It was the 1996-99 period (when AW slipped away) that it became increasingly clear that P&G had given up on AW and was not fighting for it any more. This feeling seemed to resurface when GL and ATWT began their mid-2000s declines.
I was not a daily viewer of GL or ATWT after about 2003. I admit I was mostly following their fates from a distance because I could see the writing on the wall. Yes, ATWT had a great period in 2000-2003 under a good Head Writer, but Chris Goutman (the EP) showed all the signs of burnout (many said he "just lost interest") around 2005 and rather than replace him with someone who could re-invigorate the show again, they just left him in the job all the way to the end. The soap world still had many talented people who could have been hired by P&G to overhaul ATWT but they simply chose not to. Over at GL, they had the opposite issue: a highly motivated, creative EP named Ellen Wheeler ready to do new, exciting things who was saddled with an ever-decreasing budget. Her decision to transition to that (admittedly awful) new production model was her solution to the budget given to them by P&G, when many in the soap press were saying that the budget had been intentionally set that low so that everyone would throw up their hands and give up on the show. Wheeler tackled the problem rather than walking away from it, giving the show an additional few years of life P&G and CBS probably did not expect to get. In Kim Zimmer's memoirs she recounts how she barged into Wheeler's office to complain about some issue and found Wheeler in tears from all the pressure brought to bear on her (and everyone else) just to keep it all going when it felt like no one from P&G or CBS wanted them to succeed. Unlike most cancelled soaps that got a two- or three-month period to wrap things up, I recall ATWT received their cancellation about a year ahead. This could be construed as "a license to give up" from that point forward, which was a(nother) mistake.
For the record, I've seen multiple soaps announce cancellation and then hear they're "shopping it around" (supposedly). They said it with
Edge of Night. They said it with
Another World, with
Passions....well, you get it. I think the PR people just say these things in an effort to soften the blow of the announcement and to make the upset viewers feel less upset. When bad things happen, you instinctively feel the need to "do something" or to encourage others to do something to feel as if you have some stake in possibly changing the decision....but of course this is all out of our hands. No network executive is going to encourage a competitor to pick up a show they cancelled in the hope that the competitor makes a success of it. They want their competitors to be
unsuccessful!