Lionsgate is eliminating 8% of its staff, which had grown from 350 to 550 over the past four years.
Lionsgate has set Ashton Kutcher to star in and Robert Luketic to direct "Five Killers," an action comedy that will begin production early next year.
Lionsgate shareholder Carl Icahn, recognizing a bargain when he sees one, has upped his stake in the company from 4% to more than 9%.
With Lionsgate in expansion mode, topper Jon Feltheimer has signed a long-term agreement with the mini-major, extending his tenure as co-chairman and CEO until March 2014.
Alli Shearmur is joining Lionsgate as president of motion picture production and will head a new production wing as the company continues to expand.
Online movie download service Jaman.com has added another major studio's titles to its catalog, pacting with Lionsgate to offer select pics on demand.
Lionsgate has acquired the Duane Swierczynski novel "Severance Package" and has hired helmer Brett Simon ("Assassination of a High School President") to write the script with the author and direct.
Warner Bros. has set a release date for director Gavin O'Connor's long-gestating film "Pride and Glory." Meanwhile, O'Connor has set up his next pic, "Warrior," at Lionsgate.
Lionsgate posted stellar numbers in the fiscal first quarter as revenue shot up 50% and net profit swung to $7.1 million from a year-ago loss of $53.1 million.
Before selling the book, author and cartoonist Chris Millis has sold screenplay rights to his novel "God and California" to Lionsgate.