Well of course the ones who's interests it's in to do so will want this, but the most logical thing is just pause the league indefinitely and restart it as soon as they are able. If they cancel the league there will be lawsuits by numerous clubs, especially from Liverpool and teams that will be relegated and ones not promoted from the lower leagues. Obviously football is going to be gone forever so just resume the league as soon as they can and then nobody can complain. When that's finished have a short break or even just carry on the next season like it's just another round of games.
Yeah, I think if we start removing all the thinking about profits, TV deals, partnerships, etc, that's the most obvious and logical thing to do. But if we start thinking about them, even legally, litigation would be far more costly than paying off contractual obligations (plus surely they've got insurance).
P.S. Anyone read tThe talk emerging about players not being fit after so long not playing, well, that's also really silly. If players aren't keeping fit on their own, they shouldn't be paid salaries.