LOS ANGELES (CBSLA) — The Paley Center announced Wednesday that it would postpone its signature PaleyFest LA event — scheduled to begin Friday — over coronavirus concerns.

“For several weeks now, the Paley Center, along with our venue host, The Dolby Theatre, has monitored the situation closely, staying in daily contact with local, state, and federal partners, as well as following the recommendations issued by the CDC (Centers for Disease Control and Prevention) and following the guidelines of the local health department,” the organization said in a statement. “Based on the most recent news and out of an abundance of concern, we have made the difficult decision to postpone this year’s PaleyFest. While we were looking forward to presenting another stellar lineup of PaleyFest events, the safety of our event participants, guests, and staff is the highest priority.”

READ MORE: Business Taking New Precautions As COVID Cases Surge

The event, scheduled to run March 13-21 was scheduled to pay tribute to retiring sitcom “Modern Family,” and also had events dedicated to CBS’s “NCIS: 400th Episode Celebration,” CBS All Access’ “Star Trek: Picard,” Pop TV’s “Schitt’s Creek,” and was set to close with Disney Plus’ “The Mandalorian.”

The Paley Center said it was exploring options to reschedule the festival and that all ticket purchases would be honored for the new days.

READ MORE: Joseph Jimenez Charged With Murder, Attempted Murder In Corona Movie Theater Shooting

“We appreciate your understanding during this challenging time, and look forward to welcoming you to PaleyFest later this year,” the organization said.

The Paley Center said it was exploring options to reschedule the festival, and that all ticket purchases will be honored for the new dates. “We appreciate your understanding during this challenging time, and look forward to welcoming you to PaleyFest later this year,” the org added.

MORE NEWS: Initiative To Clear Encampment From Venice Boardwalk Brings 191 People Indoors

Click here for a full list of canceled or postponed SoCal events.