What's news: The pandemic's impact on Hollywood will become more clear as Disney, ViacomCBS, Fox, AMC Networks and Discovery report earnings, Paul Singer sets his sights on Quibi, Rome to reopen film sets, Asia box office collapses in Q1, Twilight author Stephanie Meyer plots new book, former CBS comms chief Gil Schwartz dies at 68. Plus: Debating the Academy's Oscars changes, and a review of Netflix's Becoming. --Alex Weprin

 The Week That Will Define The Pandemic's Economic Impact

►Just how significantly will the novel coronavirus pandemic hit Hollywood? The next five days will paint a more complete picture. A number of major companies will report their first quarter earnings, during which the virus began its spread across the country, shuttering movie theaters and concerts, preemptively shutting down sets, and canceling, er, postponing live sports.

--The biggest of all is The Walt Disney Co., which may be more exposed to the virus than any other conglomerate. With its theme parks shut down, its flagship cable channel ESPN without live sports to air, and movie theaters delaying many of its tentpoles, the company will lay out the financial impact the virus has taken on the company, and perhaps forecast what it means for the rest of the year. Oh, it will also be CEO Bob Chapek's first earnings report as the boss.

--This morning MoffettNathanson analyst Michael Nathanson downgraded his rating on the Walt Disney Co.'s stock from "buy" to "neutral." "There are a number of risks that could lead this unprecedented event to have a longer impact, with earnings revisions massively skewed to the downside," he wrote in a report. "Our Disney downgrade is also an admission that we believe the economic impact on the company will be longer than most anticipate, especially given the risks of a second wave of infections after reopening." Read more.

--But it's not just Disney: Cable entertainment companies like AMC Networks, ViacomCBS and Discovery will report this week as well, as will companies exposed to the suspension of sports leagues, including Discovery (which owns Eurosport), ViacomCBS' CBS, and Fox Corp. Ticketmaster owner Live Nation will report its earnings at a time when all live events are not happening. Roku, meanwhile, may be poised to report a benefit from people staying home. Video game companies like Electronic Arts and Activision, which also report this week, should benefit from increased sales and usage.

--After Facebook and Google reported a sharp decline in their advertising business, all eyes will be on the TV networks, digital properties and newspaper companies like the The New York Times  Co. and News Corp.,which also report this week. Is TV being hit as hard as digital? And when do these companies think advertising, or events like upfronts, return?

Stay tuned...

 New Trouble For Quibi

►Paul Singer vs. Quibi: The Elliott Management founder, who has taken on AT&T and Twitter in recent months, is now setting his sights on a slightly smaller, albeit high-profile, target. According to the Wall Street Journal, Elliott Management has agreed to bankroll a lawsuit filed by Eko Interactive against Quibi, alleging that the video startup infringed on its patents to create its "Turnstyle" video tech. Elliott will get an equity stake in Eko, and a piece of any winnings. Quibi, meanwhile, is still just a few weeks out of its launch, with its viability still being tested.

►Rome to reopen film sets under protected conditions. Film and television sets must abide by a new set of safety measures in order to reopen, including testing actors for the coronavirus before shooting, ongoing temperature taking and the use of masks for all crew and actors while not onstage. The story.

Other opening will come slower. Potentially much slower...

+U.K. theater producer warns West End, Broadway "could be closed until next year." Cameron Mackintosh said that theaters "can't even plan to reopen" until "social distancing doesn't exist anymore." More.

+U.K. reality hit Love Island postpones next season to 2021 due to coronavirus. "We have tried every which way to make Love Island this summer but logistically it's just not possible to produce it in a way that safeguards the well-being of everyone involved and that for us is the priority," said Kevin Lygo, director of television at ITV. More.

►60 Minutes correspondent Lesley Stahl says she fought coronavirus. Stahl said she was "really scared" after fighting pneumonia caused by the coronavirus for two weeks at home before going to the hospital. "One of the rules of journalism is 'don't become part of the story,'" Stahl said at the end of Sunday's broadcast. "But instead of covering the pandemic, I was one of the more-than-one-million Americans who did become part of it." More.

►Asia box office crashes 88 percent in first quarter amid coronavirus. Months-long cinema closures throughout Asia — the biggest moviegoing region in the world — have driven earnings to unprecedented lows, with China alone seeing box office plummet 97 percent compared to last year, Patrick Brzeski reports. The story. (As bad as that is, North America's Q2 box office is shaping up to be even worse...)

►How I'm Living Now: Billy Eichner, actor and comedian. Eichner, best known as the host of Billy on the Street, may be a New Yorker through and through, but he's been spending the quarantine holed up in his Los Angeles home, where he lives alone. To keep his spirits up, he's been forcing himself to exercise. "I guess one of the advantages of L.A., unlike New York City, is that no one really walks around here anyway, even under normal circumstances -- my neighborhood is like a ghost town, so I throw on a mask and I go for a jog," says the comedian, who recommends it for anyone who feels a bit stuck right now. The interview.

►Richard Weitz's pandemic parties surpass $1 million milestone with R&B legends, Atlanta mayor. Fantasia, Johnny Gill, Amos Lee, Jac Ross, Sheila E., Al B. Sure and Jeffrey Osborne performed for Atlanta Mayor Keisha Lance Bottoms and 500 Hollywood insiders in the latest installment of Weitz's Zoom party, Chris Gardner reports.

►Gil Schwartz, former CBS communications chief, dies at 68. The network on Sunday announced that Schwartz died Saturday morning of natural causes at his home in Santa Monica. The obituary.

+Obituaries: Sue Bruce-Smith, Film4's deputy director and a much-loved and highly respected figure in the British film industry, has died. She was 62... John Lafia, who co-wrote 1988 horror film Child’s Play and also co-wrote and directed Child’s Play 2, died Wednesday in Los Angeles. He was 63...

 Debating The Academy's Oscars Changes

 Hunkered down in their Los Angeles homes, The Hollywood Reporter's awards columnist Scott Feinberg and senior film editor Rebecca Keegan trade thoughts on Oscars in the time of coronavirus.

--Feinberg: "The fact that the move [combining the sound mixing and sound editing Oscars into one category] was made without the Academy imploding might well motivate the organization to next merge its three categories honoring short films (animated, documentary and live-action) — the nominees for which the vast majority of the public never even see — into one (chosen from all three sorts), which would bring the number of televised categories down to 21."

--Keegan: "Yes, this was a big victory for people who don’t want to be numbed by a four-hour telecast rewarding the same movies. But my Twitter mentions the day this news was announced were full of people demanding the creation of new categories, namely stunts and casting. So maybe this trims the show, or maybe it makes room for more." The conversation.

►Twilight author Stephenie Meyer to release companion novel Midnight Sun. Though the author was originally set to publish Midnight Sun in 2008, Meyer canceled the publication plans after a copy of her manuscript was leaked online. The author then posted a partial rough draft of the work on her website but never released a completed story. At the time, she referred to Midnight Sun as "an exercise in character development that got wildly out of hand." The story.

►Silver Lake to invest $750 million in Indian tech giant Jio. The deal comes after Facebook's $5.7 billion investment in the telecom powerhouse and builds on the investment firm's other tech and entertainment holdings, including stakes in Endeavor, AMC Theatres and Twitter. More.

►Review: Daniel Fienberg reviews the Netflix documentary Becoming, an adaptation of Michelle Obama's memoir. "The conversations with celebrity moderators, held in massive venues alive with a palpable energy, find Obama in candid, humorous, seemingly comfortable form," Fienberg writes. "But where she truly shines is in the smaller conversations with young people, usually young women and young women of color; her ability to connect in those settings is remarkable." The review.

The week ahead...

--In TV: I Know This Much is True debuts on HBO Sunday... Solar Opposites debuts on Hulu Friday... Jerry Seinfeld's new stand-up special drops on Netflix Tuesday... There's another Disney Family Sing-Along Sunday for Mother's Day... More.

--Earnings: AMC Networks and Disney report Tuesday, Discovery and Fox on Wednesday, ViacomCBS and Roku report Thursday...

►About last night: HBO's Westworld: About that shocking post-credits scene... How the [spoiler alert] played out in the season finale... BBC America's Killing Eve: The creative team digs into that deadly twist: "Where do we go from here?"... NBC's Zoeys Extraordinary Playlist: On the season finale and season two plans...

In other news...

--The Kids' Choice Awards 2020 may have been produced virtually, but there was still no shortage of slime during Saturday's telecast. Here's what happened.

--How Jeff Pope turned around ITV's lockdown-themed drama series Isolation Stories in just 30 days.

--Trevor Noah, Rebel Wilson, Zendaya, Megan Rapinoe and Greta Thunberg were among those honored Sunday during the Shorty Awards, which were presented during a digital show.

--A number of New York's biggest stars are joining forces for a telethon, presented by Robin Hood and iHeartMedia and to be hosted by Tina Fey, to help with the city's response to the coronavirus pandemic.

--Florida deputies arrested a man who had been living out his quarantine on a shuttered Disney World island, telling authorities it felt like a "tropical paradise."

--Ryan Murphy on righting wrongs of the past with reimagined Hollywood ending.

--Netflix's Hollywood cast say the show will "strike significant chord" with the industry.

What else we're reading...

--"Content, cars, and comparisons in the 'streaming wars'" [Matthew Ball]

--"Facebook warned that it may lose a key seal of approval for ad measurement" [WSJ]

--"Streaming services face an economic reckoning after Covid-19" [Bloomberg]

--"YouTubers tricked Carole Baskin into giving her first major interview since Tiger King by pretending to be Jimmy Fallon" [Insider]

--"Is this the future of the fashion show?" [NY Times]

Today's birthdays: Lance Bass, 41, Oleta Adams, 67, Will Arnett, 50, Erin Andrews, 42, Rory McIlroy, 31.

May the 4th be with you...