Fox Corp. Quarterly Earnings, Revenue Fall Amid Pandemic

Erik Pedersen Managing EditorWith Hollywood production sideswiped by the coronavirus pandemic for five months, TV networks and streamers’ pipeline is starting to dry up.

The surge in demand for streaming services since the novel coronavirus pandemic forced much of the word indoors has been a much-discussed and well-documented topic, with Netflix stock soaring and Disney having amassing more than 60 million Disney+ subscribers by the end of June. But now — at least in the U.K.

Netflix is pulling the plug on two previously renewed scripted series amid an array of issues brought on by the novel coronavirus pandemic. The second seasons of both The Society and I Am Not Okay With This have been scrapped.

Residents at an Actors Fund-owned apartment complex for low-income people with special needs are protesting a renovation project that they say will require them either to leave their homes for days or remain while workers enter their units amid a pandemic. Multiple residents at the 40-unit West Hollywood complex The Palm View Apartments have filed complaints with The Actors Fund, OPC Services, Inc.

The pay cuts spurred on by the novel coronavirus pandemic are beginning to wind down. While the entertainment industry continues to be hamstrung by postponed productions, shuttered movie theaters and closed offices, one of the largest companies in the sector is nonetheless rolling back the cuts, which were institutedin the first few weeks after states began issuing stay-at-home orders.

Elaine Low Senior TV WriterFox Corp. and Walt Disney have both reinstated executive salaries for most of those impacted by temporary pay cuts amid the COVID-19 pandemic, according to those familiar with the situation.At Fox, the parent company of Fox Entertainment, Fox News, Fox Business and Fox Sports, compensation reductions of 15% for execs at the vice president level and above came to an end on July 31.

GCSE grades today.

The Batman is starting up again.

Angelina Jolie is loving all the extra family time she’s been getting with her six kids at home amid the ongoing quarantine orders due to the coronavirus pandemic!

Camila Cabello‘s Cinderella is getting underway again!

A change of plans! Angelina Jolie’s 19-year-old son, Maddox, will virtually attend Yonsei University amid the coronavirus pandemic.“He had to stay back from Korea,” the actress, 45, told Extra on Monday, August 16, of her eldest son. “He’s going online, and so I think he starts at 6 p.m.

Kanye West resumed his Sunday Service after a months-long break due to the coronavirus pandemic — and Kim Kardashian was right by his side.“Praise God,” the rapper, 43, tweeted in the early hours of Monday, August 17. “We would like to thank our staff for making sure all Covid safety guidelines were followed today during Sunday Service at our West Mountains family ranch in Wyoming.

In the colony known as Hollywood, beekeeping is on the rise. "People suddenly have time on their hands at home," says Andrew Ward, a first assistant director (Saving Private Ryan, Westworld).

With theaters shuttered for nearly the entire second quarter amid the coronavirus pandemic, Cineplex has posted a revenue collapse and swung to a loss on Friday. The Canadian exhibition giant for the three months ending June 30 recorded a loss of CAN$98.9 million ($74.2 million), compared to a year-earlier profit of $19.4 million.

Cinema giant AMC Entertainment Holdings posted second-quarter financial results on Thursday as it looks to reopen its theaters and survive the coronavirus pandemic after a debt restructuring. The extent of the COVID-19 hit taken so far by the largest U.S.

Lionsgate has swung to a first quarter profit for fiscal year 2021, as the studio's Starz premium TV platform hit 11.4 million global streaming subscribers. For the three months to June 30, Lionsgate swung to a quarterly profit attributable to shareholders at $51.1 million, against a year-earlier loss of $54 million.

Amid a rise in confirmed coronavirus cases in multiple states in the U.S., Fox Corp. is postponing plans for a companywide return to its offices this fall.

Brian Steinberg Senior TV EditorA significant chunk of Fox Corp.’s employee base is likely to work from home for the rest of 2020 to keep the coronavirus from spreading among staffers, the company’s chief executive revealed in a memo.“In the near-term, we want to maintain a low density in our offices for those employees whose jobs do require them to be on site,” said Lachlan Murdoch, in the note.