What's news: Hollywood trying to adapt to a changing world, liquidity is the name of the game as companies shore up finances, how the $2 trillion stimulus helps movie theaters, Quibi prepares to launch in a challenging environment, Endeavor Layoffs, AMC Theatres furloughs its CEO. Plus: THR asks entertainment insiders "How I Live Now," and analysis of the quarantine ratings bump. --Alex Weprin

 Hollywood In The Age Of Coronavirus

On the cover: With an unprecedented shuttering of the industry, major studios break the glass to deliver films on demand while some executives and artists take up a DIY ethos amid the downturn, Rebecca Keegan reports: "You have to adapt."

+Some windows are being shattered while others remain: "Tellingly, Universal is sticking with theatrical for the pricey tentpole sequels F9 and Minions: The Rise of Gru, both of which were delayed (the previous installments of both franchises made more than $1 billion in theaters). But the $90 million price tag on Trolls World Tour makes it an unusually costly film to premiere on demand. "Movies that are extremely expensive are released in theaters worldwide for a reason because that's the only way you can make that money back," says Paul Dergarabedian of Comscore. "Look at Avengers: Endgame. How would you ever earn $2.7 billion on demand?"

+Light at the end of the tunnel? "People will still want to go to events, games, concerts, movies," says billionaire and Dallas Mavericks owner Mark Cuban, who sold his stake in the Landmark Theatres chain in 2018 and has been an advocate for shortening theatrical windows for more than a decade.

--Cuban does not believe the shorter windows will inspire people to stay home when theaters reopen. "People will forever get cabin fever, and 'Netflix and chill' is not a long-term solution for 16-year-olds who are dating, at least not in my house. People will return to their old habits once they trust their environments to be safe. We have had tragedies in entertainment venues before, yet people have returned. I don't expect this to be different." The cover story.

►Hollywood's growing debt and earnings risk amid the pandemic: "It's all about liquidity." Who will be worst hit by the virus crisis? "The highly leveraged companies that are disproportionately susceptible to the shutdown of mass gatherings could be the most vulnerable to the COVID-19 outbreak," says CFRA Research analyst Tuna Amobi. "That would probably include the movie theater chains, as well as live entertainment/events companies. ... The longer the duration of the COVID-19 outbreak, which remains unpredictable, the more precarious its financial consequences will be for the entire industry." The story.

+Redstones' holding company amends credit pact without pledging more ViacomCBS stock. National Amusements, the holding company through which the Redstone family controls ViacomCBS, has amended a credit agreement with its lenders after a recent technical violation of a minimum collateral requirement on a credit line owing to the sharp decline in ViacomCBS' stock price amid the coronavirus pandemic. More.

►How the $2 trillion federal aid package may help movie theaters. The $2 trillion relief package would set up a $454 billion loan guarantee fund that would allow distressed businesses to pay their fixed costs at a time when no revenue is coming in. There will also be expanded Small Business Administration programs that will allow smaller businesses — defined as having 500 employees or less — to do the same and, in some cases, be eligible for loan forgiveness. A majority of the country's cinemas would fall under the definition of a small business, according to NATO.

--"With this agreement, movie theaters can look forward with confidence to re-opening and once again serving their communities," the National Association of Theatre Owners said in a statement as the package awaited passage. The story.

►Endeavor begins layoffs with initial round of 250 staffers. The initial round impacts staffers employed in capacities in which they cannot work remotely, such as groundskeepers, restaurant and hotel staff at Endeavor's IMG Academy in Bradenton, Florida, Rebecca Sun reports. WME has just a fraction of such roles, such as temp workers in the mailroom.

--So far no agents have lost their jobs as a result of the pandemic that has brought the entertainment industry to a near-halt, but a source tells THR that "every option is on the table right now," including paycuts, layoffs and furloughs, and that because Endeavor has such diverse business holdings, decisions would be made for each unit individually but likely impact everyone in the company in some way. To wit, Emanuel and executive chairman Patrick Whitesell are forgoing the remainder of their 2020 salaries. The story.

+AMC Theatres furloughs all corporate staff, including the CEO. By late last week, more than 2,600 employees working for AMC Theatres were let go as the circuit shuttered amid the coronavirus pandemic. On Wednesday, the country’s largest chain went even further — it furloughed all of 600 of its corporate employees, including CEO Adam Aron, saying AMC has no revenue coming in yet fixed costs continue.

--"At this time, AMC is not terminating any of its corporate employees, however, we were forced under the circumstances to implement a furlough plan, which is absolutely necessary to preserve cash and to ensure that AMC can reopen our doors once this health crisis has dissipated," the company said in a statement. The story.

With production grinding to a halt in the face of the coronavirus outbreak, the entertainment industry has found itself navigating uncharted territory. To offer a better sense for how, The Hollywood Reporter is launching a regular series that focuses on the ways in which Hollywood's top writers, actors, directors, executives and more are living and working in these challenging times.

►How I'm Living Now: Lulu Wang, The Farewell director. Lulu Wang had been splitting her time between her next feature and a forthcoming Amazon series when the pandemic set in. Reached earlier this week from her home in Los Angeles -- before she began quarantining with her director boyfriend, Barry Jenkins -- she opened up about her new normal, which includes writing, pickling and Questlove afterparties. The interview.

►How I'm Living Now: Samantha Bee, Full Frontal host. Ahead of Samantha Bee's return to late night, in which she'll broadcast TBS' Full Frontal from her home in upstate New York, the host spoke to THR's Sharareh Drury— pressed against a window to gain the best phone reception she could — about her quarantine routine, which, with her husband, Jason Jones, and their three children, ages 9 to 14, includes a chaotic mix of Zoom calls and Cuomo pressers. The interview.

+In other late night news: CBS' Late Show with Stephen Colbert will resume production Monday, with the show's staff all working remotely, and Colbert hosting from his New Jersey home. More.

►Festival-bound filmmakers' new dilemma: Screen virtually or wait for another market? As the industry shutters, sellers are sending screening links and brainstorming virtual marketplaces, Mia Galuppo reports: "We just don't have the luxury of waiting to try and create that [event] experience." The story.

►The Tony Awards will be rescheduled. The confirmation comes after two weeks of uncertainty, in which it had become increasingly clear that the awards ceremony, along with its eligibility cutoff date of April 23 and scheduled nominations announcement of April 28, would have to be pushed back.

--"We will announce new dates and additional information once Broadway opens again," continued the Tony Awards statement. "We are looking forward to celebrating Broadway and our industry when it is safe to do so." The story.

 Quibi Adapts

►As Jeffrey Katzenberg’s Quibi races toward launch, will a changed world help or hurt? Even in the best of times, Katzenberg and Meg Whitman's $2  billion mobile video platform was a high-stakes gamble. Now, with the coronavirus pandemic turning the country upside down, they are about to find out whether the millions of potential users under quarantine are a subscriber-boosting blessing or a platform-derailing curse, Natalie Jarvey writes.

+The show must go on: While Quibi has months worth of scripted shows in the can, the company is finding ways to have its "Daily Essentials" programming ready for launch. That includes sending equipment to talent's homes. "Tim Kash, who will host music show Pop5, has moved a scaled-down set into his garage, and Jimmy Mondal, the face of gaming show Speedrun who is now shooting from his living room, has been watching YouTube makeup tutorials so he can handle his own touch-ups."

+About that alleged Whitman-Katzenberg feud: "Jeffrey and I get along great," Whitman says. "Yeah, there are times when we get into arguments, but that’s because we come at things so differently." Adds Katzenberg: "What we have come to value and appreciate in one another is that we are opposites. But let me be really clear, there would be no Quibi without Meg Whitman. Her contributions to this place will never, ever get the credit that she absolutely deserves."

Quote: "Even [Meg] Whitman admits there are a lot of unknowns. 'I don’t think we know how people will respond,' she says. 'It depends on what people are doing at home, how many people are at home. This situation is different every day.' Katzenberg is more sanguine: 'All of us now have as many in-between times as we had before. They’re just different.'" The story.

Do you have a confidential tip for THR's journalists? Email it to tips@thr.com. Anonymity will always be granted upon request.

►How virtual pitch meetings are playing out during coronavirus. Despite studio and network brass, producers, reps and writers all being holed up in their respective homes amid the coronavirus "Safer at Home" order, many previously scheduled pitches and general meetings are staying on the calendar, Michael O'Connell reports. But in lieu of conference room spiels, all parties are convening over Zoom sessions or, in other instances, larger entertainment companies’ proprietary platforms. For writers, these digital assemblies (simultaneously collegial and awkward) can alleviate some of the nerves that can come from staring down a table of executives. The story.

►NBC pulls New Amsterdam pandemic episode. The episode will air at a future date, but not as part of the current season: "The world needs a lot less fiction right now, and a lot more facts," says creator David Schulner. More.

►Dubbing service rolls out virtual studio for voice actors. TransPerfect, which counts Viacom, Warner Bros. and Amazon as clients, is rolling out a recording platform to eliminate the need for having talent in-studio while displaying all necessary information for talent, Tatiana Siegel reports. More.

►DGA: Major studios "commit" two weeks pay for below-the-line members. Although its director members are marquee names, the guild also represents assistant and associate directors and unit production managers, among others, while most of the rest of unionized motion picture or television crew are part of IATSE or the Teamsters. More.

+Spotify pledges up to $10 million to support artists amid virus crisis. Spotify is also working to add a new feature to its Spotify for Artists platform that will enable artists to fundraise directly from fans, and Spotify will not take any cut of the contributions. More.

+U.K. broadcasters urge government to support freelancers impacted by coronavirus crisis. The BBC, ITV and Channel 4 are among the signatories of a letter calling for income support to a beleaguered freelance community "as a matter of urgency." More.

+Jennifer Hudson, H.E.R. and more live-stream concerts to help WHO Coronavirus Fund. Kirk Franklin, Anne-Marie, Jojo, SOFI TUKKER, Bush and Guy Sebastian are also performing as part of "Together at Home: WHO-Global Citizen Solidarity Sessions." More.



^Hollywood's hospitality moonlighters are dealt brutal double blow: "Both of our industries are gone." Emerging actors, producers and directors who make ends meet working at restaurants and bars are filing for unemployment in record numbers after forced shutdowns in Los Angeles, Gary Baum and Katie Kilkenny report: "We feel like we're extras in a disaster movie." The story.

►"We can't be silent": Asian Americans in Hollywood denounce "Chinese virus" and racist incidents. Actors, creatives and advocates offer ways to promote inclusivity amid a crisis and say Trump's attempt to racialize the pandemic is "only adding fuel to an already blazing fire." The story.

In other coronavirus-related news...

--How Dr. Oz became a regular coronavirus pundit on Fox News.

--The Cannes Film Festival might not be happening in May, but European Film Promotion will be holding its annual "Producers on the Move" networking event in two months, with or without the festival. European Film Promotion (EFP) will launch an online version of the May event during the period when the Cannes Festival would have originally taken place. 

--Citing the coronavirus pandemic, Penguin Press has decided to delay publication of a new business bible co-written by Netflix CEO Reed Hastings.

--Roundabout Theatre Company has confirmed that both of its planned spring Broadway openings, Birthday Candles and Caroline, or Change, have now been pushed back to the fall.

+Related: In a guest column, Birthday Candles playwright Noah Haidle writes about the deferred dream of a Broadway opening.

--Jane Fonda on Wednesday launched a partnership with Greenpeace to present virtual iterations of her Fire Drill Fridays, the political events she has been participating in to campaign for the government to address climate change.

--Larry David and Lloyd Braun are teaming up to raise money for Riviera Country Club's golf caddies.

--Kathy Griffin blasted Trump for "lying" about the abundance of coronavirus tests.

Obituary: Famed chef and Top Chef: Masters winner Floyd Cardoz died on Wednesday at age 59 due to coronavirus at New Jersey's Mountainside Medical Centre, a spokesperson for his Hunger Inc. Hospitality group tells THR. The obituary.

 TV's Stay-At-Home Ratings Spike

►How big is the stay-at-home TV spike? significant, for now. With the coronavirus pandemic keeping millions of people at home, TV use has spiked, with figures from Nielsen showing rises across all demographics. Kids and teenagers, home from school, are posting the largest percentage gains. Nightly usage levels, which typically tail off on Fridays and Saturdays, have been steadier on those days in recent weeks, Rick Porter has the details.

+TV ratings: The season finale of This Is Us delivered its best same-day ratings in months Tuesday. CBS' entire lineup hit or tied season highs in both total viewers and adults 18-49 as widespread stay-at-home mandates during the coronavirus pandemic continue to drive viewing. The numbers.

+Pop TV's revival of One Day at a Time got off to a decent start on Tuesday — even though most of the premiere's viewers didn't come on Pop itself. The former Netflix comedy brought in 607,000 viewers for a simulcast on three ViacomCBS channels — Pop, TV Land and Logo. The majority of those viewers, 457,000, came on TV Land, which is in about 15 million more homes than Pop is. Pop accounted for 124,000 viewers, and Logo brought in the remaining 26,000. More.

►Moviefone's mystery buyer revealed. The Los Angeles producer Cleveland O'Neal III stated on Wednesday that his holding company offered the winning bid at the the U.S. Bankruptcy Court for the Southern District of New York. Moviefone currently only has one staffer working for the website, and the new ownership did not disclose a hiring increase but said that it will evaluate plans for future hires.

--O'Neal III will look to integrate Moviefone into his syndicated television franchise Made in Hollywood, which features celebrity interviews and film previews and has run for 15 seasons. (A recent episode included interviews with the cast of Universal and Blumhouse's The Invisible Man.) The story.



^Angry Birds animated series a go at Netflix. The streaming giant on Wednesday handed out a series order for 40, 11-minute episodes of Angry Birds: Summer Madness, an animated comedy inspired by the popular mobile game. The new series reimagines the popular franchise as tween birds at summer camp under the questionable guidance of their eagle counselor. The series will debut in 2021. The story.

Networks have picked up primetime specials to fill programming gaps...

+Elton John is set to host a one-hour special for Fox and iHeatMedia, which will air commercial free on March 29, and performers lined up include Alicia Keys, Backstreet Boys, Billie Eilish, Billie Joe Armstrong, Mariah Carey and Tim McGraw — with more set to join from their respective homes, filming on personal equipment.

+CBS late night host James Corden will host a primetime special from his home on March 30. Homefest: James Corden's Late Late Show Special will feature Corden hosting from his garage and will feature musical performances by BTS in South Korea, Andrea Bocelli in Italy, Dua Lipa in London and Billie Eilish with Finneas and John Legend in Los Angeles — all from the safety of their own homes. 

►Farrow family stands by denunciation of Woody Allen following memoir release. A statement tweeted by Dylan Farrow and signed by seven of her siblings in 2018 "still stands," they say, with regard to allegations made in Apropos of Nothing. The story.

 Netflix has convinced a California federal judge that Mo'Nique hasn't yet shown a plausible case it retaliated against her after she complained about receiving a "lowball" offer. U.S. District Judge André Birotte Jr. on Thursday granted Netflix's motion to dismiss and granted in part and denied in part Netflix's separate motion to strike. He found Hicks has not adequately alleged that the streamer's decision to not change its offer after she publicly chastised the company amounts to retaliation, but he's giving her a chance to amend her claims. More.

+Lori Loughlin's lawyers urge judge to dismiss college bribery charges. Defense attorneys for the former Full House star and her husband Mossimo Giannulli as well as other parents still fighting the charges say the case cannot stand because investigators bullied their informant into lying and then concealed evidence that would bolster the parents' claims of innocence. More.

►The Ringer to debut The Wire rewatch podcast. Van Lathan and Jemele Hill will host the The Wire: Way Down in the Hole, which will dive into each episode of the classic HBO series. More.

►Must-see classic movies about pandemics. From Jezebel to Arrowsmith, a comprehensive list of Golden Age films that deal with outbreaks. The list.

►Kenneth Turan steps down as L.A. Times film critic after 30 years. The 73-year-old was arguably the most widely read film critic in the town most associated with the making of movies. More.

►Dan Abrams' Law & Crime Network snags Verizon carriage deal. The A+E Networks-backed channel has also signed an agreement with regional carrier Cincinnati Bell. Together with the Fios deal, it will bring Law & Crime Network to more than 5 million additional homes. More.

►Reviews: Daniel Fienberg reviews season three of Netflix's Ozark... Fienberg also reviews the Netflix drama series Unorthodox.

What else we're reading...

--"Is Vince McMahon ready to tap out?" [Bloomberg]

--"Coronavirus quarantine boosts streaming video, but not advertising yet" [WSJ]

--"Spotify attracts podcast fans but not much revenue—yet" [The Information]

--"BuzzFeed slashing employee pay amid the coronavirus crisis" [The Daily Beast]

Today's birthdays: Nancy Pelosi, 80, Sandra Day O'Connor, 90, Diana Ross, 76, James Caan, 80, Jennifer Grey, 60.