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How I'm Living Now: Noah Hawley, 'Fargo' Showrunner

How Im Living Now: Noah Hawley, Fargo Showrunner

With the novel coronavirus keeping Hawley at home in Austin, he opens up about shutting down production on 'Fargo,' staying off Twitter and teaching his kids how to get back to the basics.

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

Noah Hawley, the creator of FX's Fargo adaptation, was filming the fourth season of the anthology series in Chicago when FX announced it would be shutting down production. With two episodes unfinished, the show was moved off its planned April 19 premiere date, and will no longer debut in time to qualify for the 2020 Emmy season. With a new date still up in the air, Hawley returned to his home in Austin, Texas, where he's been spending his days with his wife and two kids, still editing Fargo albeit at a much more leisurely pace, and spending his time watching Governor Andrew Cuomo for comfort and teaching his kids how to get back to the basics.

So, what does your day look like now?

On some level, my day hasn’t changed dramatically in that I’m a parent and we wake at the normal hour and we get everybody up and the coffee gets made and the breakfast gets made. So, we keep those routines. It’s good for the children that things seem normal to them. And then, if it’s during the week, I try to get the kids out and run them a bit in the yard to get some energy out, get a little exercise, and then I’ll get to work at the normal time, 9 or 10 a.m. I’m editing on Fargo and I’m writing a script and the business of Hollywood is still open enough that I’m doing studio or network calls. So on some level, it feels very much like a version of life when I’m not on location -- where I’m just home and writing. On the other hand, I’m stopping at certain points in the day to Clorox the groceries that arrive.
 
What’s been the easiest adjustment?

The easiest adjustment for me is that I get to be home with my family for a concentrated and open ended amount of time. Because I live in Austin, I am often traveling either to L.A. or to Chicago, where we were filming Fargo. So, there was a lot of coming and going, last year especially with making [the Natalie Portman-starring drama] Lucy In the Sky and then going from Lucy into Legion and then Legion into Fargo -- I’ve just been running around the whole time. So the easiest adjustment is probably the thing that people are balking about, which is I’m happily trapped here with my family in a meaningful way.

And the hardest?

We were three weeks from wrapping Fargo, so I have three quarters of a show that I can’t show people until I finish. And I don’t know when I can finish. So it’s frustrating on a lot of levels to be so close to the end and not know when you can finish it. But, obviously, in the scope of real world problems, it’s pretty minor.

What was the most challenging decision you’ve had to make since this whole thing started?

I was on location in Chicago the week that everything shut down and it was a very active situation in which I, as the showrunner on my show, on location when we had someone on an adjoining crew test positive had to navigate with the studio and the network what we were going to do and how long we were going to keep going and trying to manage the crew’s fears and expectations. That was the hardest point -- the visceral responsibility that I felt during a crisis situation for the health and well-being of the cast and crew that was relying on me.

And you're still working on Fargo remotely, even though the release date has been pushed?

Our post was also hit by a potential exposure, so our editors are at home now. A couple of them were able to get editing systems in their homes. But because our release date got pushed, we’re not rushing. I get a bit of breathing room where I can actually engage with it more creatively and less in a desperate panic to get it done in time.

What have you learned about yourself in this period?

We’re rarely tested in a meaningful way and I always like to think that as a showrunner and a leader, for lack of better words, that I can stand up for myself and the people I’m responsible for and still navigate and manage the needs of the corporations to which I am beholden. I had a really tough week in trying to satisfy a lot of masters and it was nice to learn that under an immense amount of pressure, I could stay calm and do what I knew was best for everybody.

What or who have become your go-to news source during this period?

I still look primarily at The New York Times and the Washington Post. I don’t watch a lot of CNNs or MSNBCs, and I haven’t really been on Twitter in four years. Every once in a while you’ll follow a link and you’ll see, "Oh yeah, everyone is still out there just yelling at each other." Our blood pressures are all high enough without subjecting ourselves to that level of punditry.
 
What are you watching, reading, playing or listening to as a reprieve?

I’m watching a lot of Andrew Cuomo these days as a native New Yorker but also as someone who, like all of us, is looking for empathetic, fact-based leadership. It’s very comforting.

How would you describe your corona era wardrobe?

I still think it’s important to keep up appearances. So, I’m wearing a shirt with a collar right now and we still get up and get everybody dressed for the day.

Are you dusting off any old hobbies or finding any new ones during this time?

I have always been a musician. And we have a sewing machine and we're teaching the kids all that old school stuff --  remember sewing, remember yard work? On some level, it’s nice to feel connected to the actual mechanics of your life. And you realize you can explain to your kids what the food chain is. We have a garden and we grow things. Food is not some abstract thing that comes to a supermarket and ends up in your house. I think we’re all realizing these days that the chain of command of our groceries, we have to know very carefully, right?
 
On that note, what have become your go-to comfort foods during the quarantine?

I’m probably eating more bread than I would otherwise. It does feel like you can’t begrudge yourself a glass of wine at the end of the day to steady your nerves before the darkness falls.

Have you found yourself or your family stockpiling anything?

Not in a crazy way. My house is not where you’ll find all the toilet paper. It was very important to my wife to have a lot of refried beans -- we’re in Texas. But it is amazing how happy I was to discover a bottle of Clorox in the back of the pantry. It’s like every cleaner I have in the house is some organic lilac based something and then you’re like, "Oh thank god there’s bleach."

In these times, what cause is most important to you?

I have a really good friend who is an emergency room doctor and a really good friend who’s a police detective and I’m in touch with them daily to make sure that they are okay and to figure out what I can do. And the fact that my doctor friend is literally accepting donations of any rubber gloves or masks that people might have is a sad statement on where we are. I think everyone’s focus has gotten a little more local, honestly, and I don’t think that's a bad thing.

And what’s atop your to-do list once this is all over?

To finish Fargo. I think there is a tone of voice to those stories that is very uplifting and fun for people. In this moment, people want something that is a story about basically decent people who are probably in over their heads that can make them feel better. And not to be able to deliver that to them when I have most of it is ... It feels like I have something to give but I can’t give it to people.

AMC CEO Hopes U.S. Movie Theaters Can Reopen by Mid-June

AMC CEO Hopes U.S. Movie Theaters Can Reopen by Mid-June

"People just so want to get out of their houses," Adam Aron told CNBC as he looked beyond cinema closures amid the COVID-19 crisis to the local multiplex possibly reopening this summer.

AMC Theatres CEO Adam Aron is forecasting that shuttered U.S. movie theaters may reopen by mid-June.

That's after the U.S. market's largest cinema chain closed all 600 of its stateside locations on March 17 as the coronavirus outbreak spread domestically. "We said we expected to be shut for six to 12 weeks. That would be May 1 to mid-June. That might be more the right timing," Aron told CNBC's Squawk Alley show on Tuesday.

His prediction fell at the outer edge of AMC's original range. Aron added that no one could forecast cinema reopenings with precision.

AMC closing all of its movie screens was followed around 26,000 employees being furloughed or let go. That included all of its 600 corporate employees and CEO Aron.

Aron on Tuesday insisted stay-at-home Americans were likely to flock to the local multiplex once the COVID-19 crisis lifted. "I think if we learned anything in the last two weeks is people just so want to get out of their houses. I think we’re all feeling cooped up and want to get out and have life return to normal," Aron argued.

But he also cautioned Americans needed to reach the end of coronavirus outbreak before they stopped sheltering in their homes and movie theaters could reopen.

A spokesperson for Cineplex, Canada's largest cinema chain, said it was too early to speculate on when its own movie screens will reopen after they too where shuttered amid the coronavirus outbreak.

"We will continue to take our lead from government and public health authorities, and we will reopen our theatres and entertainment venues across Canada when they tell us it is safe to do so," Cineplex said in a statement.

CBS TV Studios Walks Back Retroactive Cuts to Assistant Pay

CBS TV Studios Walks Back Retroactive Cuts to Assistant Pay

Under California labor law, employees must be paid overtime rates (time and a half) for any hours worked over eight hours in a day and 40 hours in a week.

CBS Televisions Studios has walked back a prior claim that it is retroactively cutting assistant hours for the week of March 22-28 and cutting hours for March 29 to April 4 as media companies are looking to tighten their budgets amid the coronavirus economic fallout.

In an email sent late Tuesday afternoon, Ellen Goldsmith, svp human resources, says she wanted to “clarify and correct” two emails sent to assistants that morning. “Currently, there are no plans to limit or cap your working hours to 40 hours per week. We are continuing to require write pre-approval for hours worked in excess of 52 hours per week.”

The email also stated that the studio had no intention of changing overall pay that assistants had already worked retroactively, and that the studio planned on being in compliance with California labor law.

This CBS email marked a stark change in tone from the message conveyed in earlier emails to support staff, which sent them to social media forums in distress earlier on Tuesday. 

"I just received notice that starting this week (week ending 4/4/20) everyone will get 40 hours even if you have an OT approval letter," an analyst in development finance at CBS Television Studios in Los Angeles wrote Tuesday morning in an email to assistants. "As for your OT worked last week (week ending 3/28/20), all your hours will be reduced to 52." Many assistants, who tend to be hourly employees, regularly work at least 60 hours per week and depend on overtime rates for their livelihoods.

"Till further notice, starting week ending 4/4/20, all timecards should be turned in with ONLY 40 hrs.," a production coordinator added in an email also sent on Tuesday. "Any hours passed will not be approved and will be returned to you for adjustment. No overtime will be approved even with an approval letter attached."

The emails, which first surfaced in a tweet by showrunner's assistant Olga Lexell, were confirmed with multiple assistant sources by The Hollywood Reporter

Under California labor law, employees must be paid overtime rates (time and a half) for any hours worked over eight hours in a day and 40 hours in a week. Employees must even be paid for unauthorized overtime; however, an employee can be disciplined for exceeding internal overtime rules. Employees who are not paid for overtime they have worked are eligible to file a wage claim with the Division of Labor Standards Enforcement.

"Under California law, hourly employees must be paid for all time worked. Period. If they work overtime, they must be paid for that overtime. Period. Whether or not CBS wants people to stop working overtime, they still must pay any overtime actually worked under current law," labor lawyer Kevin Ruf, a partner at Los Angeles' Glancy Prongay & Murray LLP who argued California's Dynamex Operations West, Inc. v. Superior Court on behalf of delivery drivers, wrote in a statement when apprised of the situation.

"We're very upset and discussing amongst ourselves what to do. I know that a group of assistants is being created as we speak to discuss how we'll handle it," one CBS assistant source tells THR. "We collectively don't believe that the people who sent the emails are the ones who made the decision, they're just the messengers for a decision that was made further up the food chain."

"My co-worker and I called each other in tears this morning, wondering what we could possibly do to stay afloat. We're checking on our friends, who are also in panic mode," says another assistant source. "We all know that our bosses will be fine if they have to take a pay cut. They'll still have a place to live and food to eat and a car to drive. But when you're making minimum wage in one of the most expensive cities in the country, losing almost half of your income can ruin you."

The news also sent shock waves throughout the #PayUpHollywood community, which advocates for better pay and treatment of support staff in entertainment. "We’ve been hearing by more and more stories of assistants losing pay everyday at different companies," tweeted #PayUpHollywood co-founder Liz Alper. "Many are hurting but these workers especially live hand to mouth. Take care of them. Urge the companies to do so too."

March 31, 3:51 pm PST Updated story and headline with CBS' response to its earlier email on assistant pay. 

'The Society' Actress Olivia Nikkanen Tests Positive for Coronavirus

The Society Actress Olivia Nikkanen Tests Positive for Coronavirus

"This is a scary thing. It's all-consuming," the 21-year-old said Tuesday via Instagram Live.

The Society actress Olivia Nikkanen on Tuesday shared a health update after she tested positive for the coronavirus.

The 21-year-old appeared on Instagram Live with her co-star Kathryn Newton and said she had been using her inhaler to help. "I’m feeling better now. I still have some chest tightness. ... This is a scary thing. It's all-consuming," she said, adding, "I’m glad that I’m okay and that my mom is okay." 

Nikkanen documented her symptoms and experience on Instagram throughout the month, explaining that she came down with body aches, slight chills and a 99.5 degree temperature on March 13. On March 14, her fever was 102.4 and she had "terribly body aches and chills," a stuffy nose and "major fatigue."

The next day she lost her sense of smell and taste and, on March 16, she was tested and had additional symptoms of a slight sore throat, which was gone the next day. The Supergirl actress experienced chest tightness as her fever decreased and was diagnosed on March 19. 

Nikkanen said that "for those asking how I have been treating my symptoms," she took Tylenol for her fever and chest pain, drank lots of fluids and got plenty of rest.

"I feel extremely lucky to be able to stay home and fully recover, it is a privilege, though it should be a right. If you are also in that position, please think about the people who are not able to take time off work," she wrote. "We are living in an unprecedented time that will no doubt change history forever and no person should be left behind. If I can flatten the curve and protect those at risk, I will do so gladly." 

Nikkanen added that she and her mom have been isolating in their apartment for more than two weeks. 

Earlier on Tuesday, CNN's Chris Cuomo revealed he has tested positive for the coronavirus. The pandemic has resulted in more than 160,000 cases in the U.S. to date, according to the CDC. 

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Discovery Well-Positioned to Withstand TV Ad Downturn, Ratings Agency Says

Discovery Well-Positioned to Withstand TV Ad Downturn, Ratings Agency Says

Fitch forecasts a "significant near-term advertising pull-back in 2020, followed by an ongoing advertising recession into 2021."

Fitch Ratings on Tuesday cited Discovery, which is led by CEO David Zaslav, as a market leader positioned well to take advantage of increased U.S. TV viewing by stay-at-home Americans during the COVID-19 crisis.

The ratings agency also cited the media giant's "strong liquidity" for Discovery to withstand a coming advertising recession as brands cut their spending during the coronavirus outbreak.

"Despite the significant uncertainty surrounding the advertising market's performance in light of the coronavirus pandemic, Discovery's rating and stable outlook are supported by the company's leading market position driven by strong niche brands and programming, which was bolstered by the 2018 acquisition of Scripps Network Interactive," Fitch said as it affirmed Discovery's BBB-rating with a stable outlook.

The ratings agency said Discovery had a strong balance sheet, with $2.1 billion in cash on hand as of Dec. 31, 2019, and access to a $2.5 billion revolving credit facility, from which it drew down $500 million on March 12.

Discovery will be tested, however, by a coming advertising recession set to mirror the downturn in the wider global economy as the COVID-19 pandemic continues.

"Although it is too early to quantify aggregate advertising declines and how quickly revenue growth will turn positive following the effects of pandemic, Fitch is adjusting its expectations to include a significant near-term advertising pull-back in 2020, followed by an ongoing advertising recession into 2021," the ratings agency said in its forecast.

Discovery last week pointed to improved TV ratings in global markets as viewers self-isolate amid the coronavirus outbreak. But the media giant added that the "unknown impact" of the pandemic on its financial results and the Tokyo Olympics postponement had forced it to retract its full-year 2020 performance outlook.

Edgar Wright to Tackle Robot Story 'Set My Heart to Five'

Edgar Wright to Tackle Robot Story Set My Heart to Five

Edgar Wright is attached to direct an adaptation of Set My Heart to Five, an upcoming novel about a robot learning to love.

According to a synopsis, the story is "set in an all-too human 2054" and follows Jared, an android that works as a dentist, as he undergoes an emotional awakening that is sparked by an introduction to '80s and '90s movies. He then embarks on a quest to convince humans that he and his kind should be permitted to feel. It’s a quest that leads to an unforgettable adventure across the West Coast of America, determined to meet to programmer that created him and write a film script that will change the world.

Author Simon Stephenson is set to adapt from his own manuscript.

The book rights were preemptively purchased by Working Title Films, which often works with Wright and is behind the director's upcoming horror-thriller Last Night in Soho, and Complete Fiction Pictures. Focus Features, which will distribute Last Night in Soho, is also attached to Set My Heart to Five.

HarperCollins imprints Hanover Square Press in the U.S. and 4th Estate in the U.K. are set to publish Set My Heart to Five later this year.

Wright, who is repped by CAA and the U.K.'s Independent and Anonymous Content, is the helmer behind such films as Baby Driver and The World's End. He is set to write and direct a Baby Driver sequel for Sony's TriStar.

 

 

 

Zach Braff, Donald Faison Launch 'Scrubs' Podcast

Zach Braff, Donald Faison Launch Scrubs Podcast

Produced with iHeartRadio, 'Fake Doctors, Real Friends' will take listeners behind the scenes of the NBC comedy classic.

Zach Braff and Donald Faison are going to relive their time on NBC sitcom Scrubs via a new podcast. 

In Fake Doctors, Real Friends with Zach + Donald, which is being produced with iHeartRadio, the Scrubs stars will look back at the nine years they spent making the show, sharing behind-the-scenes stories and reminiscing about their favorite moments from filming. They'll also interviews with other Scrubs cast members and super fans.

"Donald and I are thrilled to be teaming with iHeartRadio to produce Fake Doctors, Real Friends with Zach + Donald," said Braff. "The idea of gathering our fans all around the world together and revisiting the series episode by episode sounds like so much fun to us. Each week we’ll tell behind the scenes stories, share experiences from our friendship and have lots of special guests. We’ll also be taking live fan questions over the phone. We can’t wait to laugh with our Scrubs family."

Added Faison, "I am really excited about this. It's going to be a lot of fun, and I can't wait to talk to you all about such an important and amazing time in our lives. Get ready and tune in." 

Created by Bill Lawrence, Scrubs followed a group of young doctors at fictional teaching hospital Sacred Heart. It aired from 2001 to 2010, starting on NBC and ending on ABC. To pay tribute to the show's use of music, Fake Doctors, Real Friends will feature a theme song with music created by Charlie Puth and lyrics written and performed by Braff and Faison. 

The show drops Tuesday on the iHeartPodcast Network. New episodes will be available every Tuesday. 

"We're beyond excited to bring Fake Doctors, Real Friends with Zach + Donald to the iHeartPodcast Network and to have two of the funniest friends out there take a nostalgic look back into a show that so many people love," said iHeartPodcast Network president Conal Byrne. "Scrubs meant so much to its fans over its nine-season run, and Zach and Donald are allowing us to bring it all back to life with this podcast. Listening to the podcast feels like hanging out with old friends — something everyone needs, especially right now."

PETA Urges No Live Animals for 'Tiger King'-Inspired Series

PETA Urges No Live Animals for Tiger King-Inspired Series

The animal rights group in a letter asked Universal Content Productions to use "CGI or animatronics" in the upcoming limited series.

People for the Ethical Treatment of Animals on Tuesday asked Universal Content Productions and Kate McKinnon not to use live animals in their upcoming limited series about Joseph Maldonado-Passage, aka "Joe Exotic," a big-cat exhibitor profiled in the Netflix breakout docuseries Tiger King: Murder, Mayhem and Madness. 

"Netflix's Tiger King is calling critical attention to the abuse and neglect endured by big cats and other wild animals used for entertainment — progress that will be undone if real wild animals are used in Universal Content Production's upcoming series," PETA senior manager of animals in film and television Lauren Thomasson said Tuesday in a statement obtained by The Hollywood Reporter.

"We hope you'll agree that using technology such as CGI or animatronics or existing footage is the only conscionable way of depicting animals for your series," she added.

McKinnon is set to star in the spinoff as Carole Baskin, an animal rights activist at the heart of Tiger King. The Netflix docuseries chronicles Joe Exotic's eventual arrest and conviction on multiple charges of animal abuse, as well as a murder-for-hire plot to kill Baskin.

PETA has a history with Joe Exotic's facility, having worked for years to shut down his Greater Wynnewood Exotic Animal Park. The animal rights group insists undercover work revealed tiger cubs had died at the park. 

"PETA managed to rescue nearly 50 animals from Joe Exotic's custody, all of whom are currently at reputable sanctuaries, and it also filed two lawsuits against facilities that acquired federally protected big-cat cubs from Joe Exotic for alleged violations of the Endangered Species Act (ESA)," the group said.

The Best Beauty Products for Working at Home, According to Hollywood Makeup Artists

The Best Beauty Products for Working at Home, According to Hollywood Makeup Artists

The beauty gurus behind Margaret Qualley, Reese Witherspoon, Tracee Ellis Ross and Emma Stone pick their favorite lipsticks, lighted mirrors and concealers for virtual meetings.

Many entertainment industry professionals are working from home during the coronavirus pandemic and getting camera-ready for virtual pitch meetings and more — even though at-home lighting isn't always the most flattering.

To help prep for those oh-so-important Zoom meetings and check-ins, Hollywood's top makeup artists recommend some key products for looking fresh and professional on camera. 

1. Fresh Black Tea Instant Perfecting Mask ($92)

"Since most of us are minimizing our daily makeup routine, adding a step or two to our morning skin-care routine is probably best," says New York-based makeup artist and brow pro Bob Scott (clients include Karlie Kloss and Padma Lakshmi), who suggests Fresh's Black Tea Instant Perfecting mask to smooth, calm and brighten skin. "It helps get that effortless perfection we all want in the morning."

2. Surratt Beauty Torche Lumiere ($54)

For more "dew" for your meeting, Scott is a fan of Surratt Beauty's Torche Lumiere. "It's my new favorite highlighter — it mimics and boosts that natural plumpness and deeply hydrated appearance our skin has when, say, one has just barely broken a sweat, or when one's skin is really happy and looking good. It's subtle but present." 

3. Ilia Color Block Lipstick ($28)

"It’s all about lip color, whether it's a shade that only slightly amps up your actual tone so that your lips don’t disappear completely on camera, or if you decide this is a good time to opt for a bold pop of color that brightens up your face," says Margaret Qualley's makeup artist, Katey Denno, who's a huge proponent of nontoxic, eco-friendly beauty. "Ilia has shades for a variety of skin tones that go on easy and hydrate nicely."

4. Koh Gen Do Moisture Fit Concealer ($50)

"Right now, I find that my Koh Gen Do concealer is my best beauty friend," says Emma Stone's makeup pro Rachel Goodwin. "It has been nice to let my skin breathe more while I've been at home, but a little bit of concealer is a quick-fix morale booster that grants me a sense of being pulled together on the outside even when I'm anything but on the inside."

5. Riki Skinny Lighted Mini Vanity Mirror ($195)

"For digital meetings that can’t be moved around to [access] favorable lighting, I use a portable lighted Riki mirror. It illuminates the face and makes any small or dark office space look professionally lit," says Tasha Reiko Brown, whose clients include Alicia Keys and Tracee Ellis Ross.

6. Your favorite red lipstick

"During these changing times of communication, my one must-have for digital meetings is a red lip," Brown adds. "It brightens the whole face and on a small digital screen draws attention to you when speaking and tends to make viewers focus on you annunciating. It also makes you look instantly put together with minimal effort." 

7. Armani Lip Maestro Liquid Lipstick ($38)

"I love Armani Lip Maestros. The range is very wide and it feels luxurious on the lips and wears beautifully," says Reese Witherspoon's makeup artist Molly Stern. "It's a simple way to feel put together and that the day was worth your effort."

Fox Corp. Says Virus Crisis Impact Could Be "Material," Eyes Credit Pact Amendment

Fox Corp. Says Virus Crisis Impact Could Be Material, Eyes Credit Pact Amendment

"While the company’s national news ratings remain strong, sports events for which the company has broadcast rights have been canceled or postponed."

Fox Corp. on Tuesday became the latest media giant to say that the financial fallout from the coronavirus pandemic could be "material" and said it is looking to amend a credit agreement. But the owner of Fox News also highlighted "strong" news ratings.

"The impact of coronavirus disease 2019 ('COVID-19') and measures to prevent its spread are affecting the macroeconomic environment, as well as the business of Fox Corporation, in a number of ways," it said. "For example, while the company’s national news ratings remain strong, sports events for which the company has broadcast rights have been canceled or postponed and the production of certain entertainment content the company acquires has been suspended."

It joined other media giants in highlighting that the specific financial implications are unclear for now. "The magnitude of the impacts will depend on the duration and extent of COVID-19 and the effect of governmental actions and consumer behavior in response to the pandemic and such governmental actions," Fox said. "The evolving and uncertain nature of this situation makes it challenging for the company to estimate the future performance of its businesses, particularly over the near to medium term, including the supply and demand for its services, its cash flows and its current and future advertising revenues. However, the impact of COVID-19 could have a material adverse effect on the company’s business, financial condition or results of operations over the near to medium term."

Fox, led by executive chairman and CEO Lachlan Murdoch, on Tuesday also said it "intends to enter into an amendment" with respect to a credit agreement. "The purpose of the amendment will be to (1) deduct a certain amount of cash from indebtedness for purposes of calculating the operating income leverage ratio and (2) provide for changes related to the adoption of the new lease accounting principles," it said. "The company believes that it will enter into the amendment within a few business days. As of March 31, 2020, the company had not drawn on the revolving credit facility provided by the credit agreement."

It was the latest entertainment industry company to comment on the fallout from the virus crisis.

ViacomCBS, led by CEO Bob Bakish, said March 27 that the new coronavirus pandemic could have a "material" impact on its results, withdrew its 2020 financial guidance and said it was planning unspecified "cost savings initiatives" to offset some of the expected revenue losses. 

On March 24, cable giant and NBCUniversal and Sky owner said that the coronavirus pandemic could have a "material adverse impact" on its financials, but said it was difficult to quantify it at this stage.

On March 20, WarnerMedia owner AT&T said it was canceling planned stock buybacks, including an accelerated share repurchase agreement with Morgan Stanley to buy back $4 billion of its stock, to maintain financial flexibility. "The impacts of the pandemic could be material, but due to the evolving nature of this situation, we are not able at this time to estimate the impact on our financial or operational results," the telecom giant said.

A day earlier, the Walt Disney Co. had said that, "the impact of the novel coronavirus...and measures to prevent its spread are affecting our businesses in a number of ways," including "ad sales impacts." Disney highlighted that the impact of the virus on its revenue and earnings was difficult to predict amid the fluid situation and its impact across various businesses, saying the financial fallout would hinge on the size of disruptions and how long they last, along with "governmental regulations that might be imposed in response to the pandemic."

On March 23, U.K. TV giant ITV said it would pull its dividend and make other cost savings, including in program spending, amid the coronavirus pandemic, which it said has had an "increasing" impact on its advertising revenue. It said the moves would help boost its cash reserves by more than 300 million pounds ($350 million).

  

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