Mar 20, 2018

Weinstein Co. files for bankruptcy

Harvey Weinstein. Photo: Dimitrios Kambouris / Getty Images for TNT

"Harvey Weinstein's embattled movie studio — once a premier maker of award-winning films — has filed for Chapter 11 bankruptcy more than five months after sexual misconduct allegations against its co-founder sent the company spiraling out of control," the L.A. Times reports.

The big picture: The company is also releasing its employees from non-disclosure agreements as part of the bankruptcy filing. New York AG Eric Schneiderman, who has been investigating the company, said, "The Weinstein Company's agreement to release victims of and witnesses to sexual misconduct from non-disclosure agreements ... will finally enable voices that have for too long been muzzled to be heard."

  • "The filing ... is the culmination of a long struggle to spare the formerly highflying studio from Bankruptcy Court."
  • "The move to seek protection from creditors owed hundreds of millions of dollars comes after the company tried and failed to sell assets to a group of investors led by billionaire Ron Burkle and former Obama administration official Maria Contreras-Sweet."

And in another movie business shake-up, "MGM CEO Gary Barber has been fired by the studio’s board of directors — just five months after he signed a new contract that runs through 2022," per Variety.

  • "MGM Holdings made the announcement Monday evening, saying it had initiated a CEO transition and and executive search for Barber’s successor."

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 9 p.m. ET: 1,513,358 — Total deaths: 88,415 — Total recoveries: 329,329Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 430,376 — Total deaths: 14,739 — Total recoveries: 23,707Map.
  3. Federal government latest: Top Trump administration officials had been developing a plan to give cloth masks to huge numbers of Americans, but the idea lost traction amid heavy internal skepticism.
  4. States latest: New York has reported more cases than the most-affected countries in Europe. Chicago's Cook County jail is largest-known source of coronavirus in U.S.
  5. Business: One-third of U.S. jobs are at risk of disappearing, mostly affecting low-income workers.
  6. World: WHO Director-General Tedros Adhanom Ghebreyesus urged countries to put politics aside "if you don’t want to have many more body bags.”
  7. Environment: COVID-19 is underscoring the connection between air pollution and dire outcomes from respiratory diseases.
  8. Tech: A new report recommends stimulus spending to help close the digital divide revealed by social distancing.
  9. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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U.S. coronavirus updates: New York tops previous day's record death toll

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

New York's death toll surged to its highest one-day total on Wednesday — beating the previous day's record. 779 people died in the state in 24 hours. The state has reported more cases than the most-affected countries in Europe.

Why it matters: Public health officials have warned this would be a particularly deadly week for America, even as New York began to see declining trends of hospitalizations and ICU admissions.

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The pandemic and pollution

New York City's skyline on a smoggy day in May 2019. Photo: Drew Angerer/Getty Images

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Why it matters: Old-fashioned air pollution is almost certainly the single biggest environmental health threat, contributing to the deaths of some 7 million people a year according to the WHO, making it comparable to deaths from smoking.

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