What's news: Comcast, Imax, Facebook and Twitter reveal pandemic impact to advertising and corporate earnings, NBCUniversal CEO Jeff Shell says theatrical will still be "central element" to film business, ViacomCBS layoffs, consumers more likely to return to theaters if new protocols are put in place, attorneys weigh in on how production can resume safely. Plus: LeBron James plans cross-network graduation special, and the backstory to Alf Clausen's departure from The Simpsons. --Alex Weprin

 Coronavirus Pandemic Hits Corporate Earnings

►NBCUniversal earnings drop as pandemic hits TV advertising, theme parks. Kicking off earnings season for big Hollywood companies, NBCUniversal early on Thursday reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), the profitability metric the company uses, of $1.75 billion, down 25 percent compared with $2.34 billion in the year-ago period. 

--Filmed Entertainment revenue fell 22.5 percent to $1.4 billion... At NBCU's cable networks unit, advertising revenue dropped 2.2 percent... NBCU's broadcast TV unit also saw an ad hit due to the pandemic, but adjusted EBITDA rose 29.6 percent to $501 million in the first quarter... Meanwhile, theme parks revenue at NBCU decreased 31.9 percent to $869 million in the first quarter... The story.

--The company told analysts that if the Universal theme parks are shuttered for the full second quarter, it will result in a $500 million hit to EBITDA. NBCUniversal CEO Jeff Shell also addressed the controversy over Trolls World Tour, and how the company views theatrical going forward. More farther below.

+Imax swings to quarterly loss amid movie theater closures. The large-format distributor on Wednesday posted a loss of $49.4 million, compared with a year-earlier profit of $8.3 million, as overall revenue tumbled 56.5 percent to $34.9 million from $80.2 million in the year-ago period. The results.

+AMC Theatres, which had to shutter all of its U.S. locations, filed a statement with the SEC saying that it would delay reporting its quarterly results until June, taking advantage of a COVID-spurred rule change from the Commission. The pandemic "has created substantial disruption in the Company’s operations including the suspension of all theatre operations worldwide resulting in the cessation of essentially all revenues. As a result, all corporate-level employees have been either fully or partially furloughed, significantly limiting the resources available to prepare the Delayed Filings."

Results at big tech companies show the impact the pandemic is having on advertising...

+Facebook hit by "significant reduction" in advertising demand amid pandemic. The social networking giant said that, while it saw some signs of stability during the first few weeks of the second quarter, it will not provide specific revenue guidance due to the uncertainty of its business outlook. More.

+Twitter also posted advertising revenue $682 million, up $3 million year-over-year, and overall revenue rose 3 percent to $808 million. At the same time, the company pointed to a 27 percent fall in advertising revenue from March 11 to March 31 as the coronavirus pandemic began to bite. The company swung to a first-quarter loss of $8.3 million, against a profit of $190.8 million in 2019. More.

►ViacomCBS layoffs: As ViacomCBS keeps up its plan for $750 million in post-merger cost savings, CEO Bob Bakish sent a note to employees on Wednesday as an update on the company's progress. ViacomCBS' advertising sales division as well as Nickelodeon, MTV News and other units were impacted by cuts on Wednesday as part of the ongoing restructuring. Here's the note.

+Smithsonian Channel president out as ViacomCBS merges branded groups. Tom Hayden is the latest network exec to be dismissed as the conglomerate merges its four "branded groups" into one unified organization. Sources tell Lesley Goldberg that Paramount Network senior vp unscripted Lauren Dolgen is also among those who have been impacted by Wednesday's layoffs. The story.

+Sarah Babineau departing Comedy Central. Wednesday's announcement comes only three months after she was promoted to head of Comedy Central Content and Creative Enterprises, with oversight of content for the cable channel, CC Films, Comedy Central Productions, games and other businesses. More.

+Ticketmaster furloughs hundreds of employees as part of $500 million cost reduction plan. Company officials also tell Billboard that more employees could be furloughed and that affected employees will continue to be provided with health benefits. Most furloughed employees were paid one to three weeks of severance. More.

 NBCU CEO Says Theatrical Will Still Be "Central Element" of Film Business

►NBCUniversal CEO Jeff Shell elaborates on the Trolls affair: Shell discussed the company's view on theatrical entertainment on Comcast's earnings call, calling premium VOD "complementary" to theatrical. "There is no question that theatrical is someday going to be the central element of our film business," Shell said, adding that "the majority of movies, whether we like it or not, are being consumed at home." "When we come out of this, what is going to be the model?" he added. I would expect that consumers are going to return to the theaters, and we will be a part of that. I would also expect that PVOD is going to be a part of that offering in some way.” More.

+Movie theater giant Cineworld has weighed in on the growing controversy regarding Universal's decision to release Trolls World Tour on premium VOD instead of waiting for cinemas to reopen post-coronavirus pandemic, claiming that the studio took advantage of the crisis. In a statement sent Wednesday, Cineworld CEO Mooky Greidinger didn't hold back, highlighting a message he sent to Comcast chairman Brian Roberts in mid-March, after Universal announced that Trolls 2 would be released in breach of the theatrical window.

--"Nice words from your team are worthless if we cannot trust you as a partner," he wrote to Roberts, explaining that Cineworld's other partners had called the exhibitor in a "timely manner" and explained that they wanted to shorten the window for movies already released, and had "reassured us" that there would be no change to their window policy once business resumed. The story.

+Also: Europe's cinema owners have joined in the Trolls World Tour bashing. The International Union of Cinemas (UNIC), which represents European cinema trade associations and operators, said Wednesday that VOD figures for Universal's new release were, essentially, a one-off... 

►Many Americans would return to theaters if new protocols were in place. More than half of Americans say they would take a trip to a theater within a month of their respective states meeting White House guidelines for reopening businesses — provided that movie theaters offer staggered setting and sanitize high-traffic areas. Conversely, only 22 percent would consider making a trip to a cinema within the same time period if a state reopens early, according to a new Hollywood Reporter/Morning Consult poll examining the impact of the coronavirus pandemic. The story.

►How Hollywood can make on-set work safer when production resumes. Collective quarantines, staggering crew work hours, daily temperature checks, regularly disinfecting props and costumes should be considered, write a trio of employment lawyers in a guest column for THR. The column.

►Greg Berlanti commits $1 million to aid TV crews, production staff, organizations with COVID-19 relief. Berlanti's donation will go directly to helping his employees across a stable of 17 shows as well as to the MPTF, SAG-AFTRA COVID-19 Disaster Fund and the Actors Fund to aid COVID-19 relief efforts. More.

►How I'm Living Now: Zach Braff, actor, writer and director. Zach Braff has been holed up in his L.A. home, which he shares with his girlfriend and puppy, moving between his next screenplay and his just-launched Scrubs podcast. In between, the actor/director cares for the wife and child of Broadway star Nick Cordero, who are living in his guest house as Cordero remains unconscious at Cedars-Sinai care of COVID-19. Earlier this week, Braff opened up about his new normal, which includes sandwich making for Midnight Mission, flower runs for his house guests and a new project that's provided a much-needed reprieve. The interview.

In other coronavirus-related news...

--The National Academy of Television Arts & Sciences said Wednesday that the Daytime Emmys will be handed out in a "virtual" ceremony later this year. In addition, the Sports Emmys, News & Documentary Emmys and awards for achievement in Technology & Engineering also will be presented via remote video productions. 

--The Fantasia International Film Festival is going online this year due to the COVID-19 crisis with a virtual screening event from Aug. 20 to Sept. 2 to mirror where possible a traditional theatrical experience.

--In a blog post on Thursday morning, Microsoft Xbox head Phil Spencer shared data about its Game Pass amid the coronavirus pandemic, showing that usage and engagement have both been up since lockdowns first went into effect.

Obituaries: Rishi Kapoor, beloved Bollywood star of the 1970's and 80's and scion of the famed Kapoor acting family, has died. He was 67... John O'Connor, a visual effects editor who worked alongside Polish filmmaker Zbigniew Rybczynski on the PBS program The Orchestra, died Sunday in Yorktown Heights, New York, after a short illness. He was 61...

 LeBron James Plots Cross-Network Graduation Special

►LeBron James to host star-studded virtual graduation for class of 2020 across TV and social media. The one-hour special, which is called Graduate Together: America Honors the High School Class of 2020, will air simultaneously across all broadcast platforms — ABC, CBS, Fox and NBC — and on a host of leading entertainment, social media and streaming platforms — including YouTube, Instagram, Facebook, Snapchat, TikTok, PeopleTV and Complex Networks — on Saturday, May 16, at 8 p.m. ET. The show is being produced by Done + Dusted and James' SpringHill Entertainment. The details.

+Menudo plots its return — as a reality competition TV series. Universal Television Alternative Studio is ready to create the next version of the iconic boy band Menudo. The studio, fronted by Toby Gorman, has acquired the rights to Menudo, an hourlong, weekly competition series that will search for and rebuild the band that gave Ricky Martin his start. A network is not yet attached, but Mario Lopez will ep. More.

►Edgar Bronfman Jr. named executive chairman of streamer FuboTV. Bronfman Jr. is both a direct investor as well as an investor in fuboTV through Waverley Capital, a venture capital group he co-founded in 2017. As executive chairman, Bronfman Jr. will help advise the live TV streaming platform as it looks to a possible major stock exchange listing. More.

In compensation news...

+Discovery Inc. president and CEO David Zaslav's 2019 pay package dropped to $45.8 million. That was down from $129.4 million in 2018, when he received a lump of stock option rewards tied to a new contract.

+Imax CEO Richard Gelfond's compensation for the latest fiscal year came to $7.1 million, up from $6.28 million in fiscal 2018, according to a regulatory filing Wednesday.



 Fox says a discovery about Simpsons composer Alf Clausen culminated in his firing. In new court papers, Simpsons producers say they were surprised and disturbed to learn that Clausen was having his son and others create music for the animated comedy. Fox demands an end to an age bias suit as an impingement of its First Amendment-protected decision-making about the show's music. The story.

+Simon Wiesenthal Center sues insurer ahead of debut of Netflix film. The non-profit says it couldn't screen Never Stop Dreaming and had to cancel a dinner honoring George and Amal Clooney because of the COVID-19 pandemic. The Center and Moriah Films have filed a lawsuit alleging that Chubb Group must provide insurance coverage.The story.

+Senators ask U.S. copyright, patent offices to study infringement by states. Sens. Thom Tillis (R-North Carolina) and Patrick Leahy (D-Vermont) asked the U.S. Copyright Office and the U.S. Patent and Trademark Office to begin a study on the extent to which intellectual property owners are suffering infringement at the hands of state government. The request by the two members of the Senate Judiciary Committee comes after a notable Supreme Court opinion in March. The study would prime new legislation on the IP front. More.

+Cinematographers Guild celebrates drone victory over Warner Bros. in arbitration. Five individuals working on a TV show should have been covered under an agreement between cinematographers and producers, an arbitrator ruled April 21. More.

►Tribeca Film Festival winners: Even with its physical edition postponed amid the coronavirus pandemic, the 2020 Tribeca Film Festival presented the winners in its juried competition Wednesday night via Tribeca's Instagram after the fest made some of its programming available online. Here's the list.

►Netflix lands faith-based musical A Week Away. The project, which was shot in Nashville, follows troubled teen Will Hawkins (Kevin Quinn), who has a run-in with the law that puts him at an important crossroads: Go to juvenile detention or attend a Christian summer camp. More.

►Summer TV scheduling: CBS has added two unscripted series to its summer schedule — and removed the previously announced Amazing Race from the slate in order to have it on hand later in the year. The new series are the James Corden-produced Game On, which debuts May 20, and Tough as Nails, hosted and executive produced by The Amazing Race's Phil Keoghan, premiering July 8...The Bachelor is digging into its library of programming to fill its summer slots. With the next cycles of The Bachelorette and Bachelor in Paradise in limbo amid the coronavirus pandemic and Hollywood-wide production shutdown, the ABC franchise is moving forward with a retrospective series event for its summer programming...

►Univision follows NBC with virtual presentation to advertisers. The Spanish-language broadcaster will host a two-part streaming presentation to ad buyers on May 12, the same date it had initially scheduled its upfront. Sources tell THR the event is not meant to replace an upfront — and that one may still happen when conditions allow — but more of an update on the state of its business. More.

►TV ratings: The Conners finished atop Tuesday's adults 18-49 ratings on the broadcast networks, but a high dose of reruns meant network averages were largely down compared to the same night last year. It's also a sign that inventory is running thin as the traditional season enters its last few weeks. The numbers.

►TV reviews: Daniel Fienberg reviews the new Amazon comedy from Office veteran Greg Daniels, Upload. The review... Robyn Bahr reviews HBO's Betty.

In other news...

--The Transformers franchise is going back to where it began for a new animated prequel. Paramount Animation and Hasbro's eOne have tapped Toy Story 4 filmmaker Josh Cooley to develop the film.

--Kaley Cuoco is taking a trip to Kevin Hart's Man from Toronto. The actor will star in the film along side Hart and Woody Harrelson.

--The World According to Jeff Goldblum is getting a temporary second home. National Geographic will air two episodes of the Disney+ series on May 11, marking the second time a show from the streaming platform has aired on a linear channel (Nat Geo is also owned by Disney).

--The Federal Aviation Administration is investigating after Harrison Ford in a private small plane crossed a runway where another aircraft was departing. There was no danger of a crash.

--New York University's Black List-inspired annual selection of the best production-ready screenplays from its Tisch School of the Arts graduate film students and recent alumni, known as The Purple List, has revealed its 2020 picks.

--Normal People author on the pressure of adapting her best-selling novel for Hulu.

--U.K. broadcaster Channel 4 has unveiled five new self-isolation-friendly shows, including one likely to set pun-loving tails wagging. In Snoop Dogs, announced Wednesday, cameras go inside a number of stars' houses, inviting viewers to guess the famous owner.

What else we're reading...

--"Coronavirus shutdown puts Disney+ in a programming crunch" [WSJ]

--"What do famous people's bookshelves reveal?" [NY Times]

--"NCAA wants to allow athletes to cash in...to a point" [WSJ]

--"Small businesses get COVID-19 relief in private grants, as Verizon boosts support to $7.5M" [USA Today]

Today's birthdays: Kirsten Dunst, 38, Lars von Trier, 64, Johnny Galecki, 45, Dianna Agron, 34, Justin Vernon, 39.